Russia is Ready for Bitcoin Acceptance for Foreign Transactions

The Russian Ministry of Finance announced that has a draft bill that will allow the Bitcoin usage and other cryptos for settling international settlements.

The law describes that cryptocurrencies will be bought, what can be done with them and how international settlements will be made or not.

We should point out that the Central Bank of Russia restricts the launch of crypto exchanges and the transactions inside Russia. In addition, crypto mining is one of the banned activities in Russia.

A new framework is under development in Russia as the war in Ukraine and the sanctions imposed from the West, were the catalyst for the new measures regarding cryptocurrencies.

We expect the news….