Global #Russia

Russia is intensifying its crypto mining ambitions with a major new project in the Komi Republic. The northeastern region of the country has announced plans to build 15 new crypto mining data centers, signaling a robust commitment to expanding its digital asset infrastructure.

Russia introduced a significant legal shift by allowing the use of cryptocurrency for foreign trade settlements. This move marks a notable step towards integrating digital assets into the country’s financial system, though full regulation of this activity remains pending.

Russia is poised to begin trials for crypto exchanges starting September 1, as part of a strategic move to mitigate the impact of international sanctions. According to Bloomberg, citing knowledgeable sources, these trials will focus on enabling conversions between rubles and cryptocurrencies through the National Payment Card System, which is regulated by the Bank of Russia.

In a strategic push to bolster its foreign economic activities and advance de-dollarization, Russia is set to launch two significant cryptocurrency exchanges.

​In a strategic move to enhance its role in the global cryptocurrency market, Russia is set to launch new crypto exchanges and explore stablecoin options tied to the Chinese yuan and BRICS currency basket.

The Russian Senate has passed a landmark bill on cryptocurrency mining, paving the way for it to become law pending President Vladimir Putin's signature.