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China-Russia International Trade Payments Situation Worsens: Crypto and Barter Rise as Alternatives
15.8.2024
Chinese regional banks, which were once used as bridges to process payments from Russia to China, have begun rejecting these payments for fear of secondary sanctions. To facilitate these transactions, cryptocurrency and even barter schemes have emerged as options to continue trading outside...
$2.3 Billion in Dollar, Euro Bills Shipped to Russia Despite Ban
14.8.2024
Despite Western restrictions imposed after Russia invaded Ukraine, billions of dollars and euros in banknotes have flowed into the country. This suggests that Russia has found ways to circumvent these restrictions. Despite official efforts to reduce reliance on foreign currency, Russian citizens...
BRICS Countries Deem US Dollar Less Important in Global Trade, Says Indian Expert
14.8.2024
The vice chairman of the BRICS Chamber of Commerce and Industry, Sameep Shastri, has highlighted the economic bloc’s shift away from reliance on the U.S. dollar, opting instead to trade using their national currencies like the Russian ruble, Indian rupee, and Chinese yuan. He underscored...
Chess Pro Arrested After Allegedly Poisoning Rival With Mercury
13.8.2024
A Russian chess player is facing possible jail time and criminal charges after she allegedly used liquid mercury from a broken thermometer to poison a rival player during a large tournament earlier this month. Read more
Putin Signs Law to Advance Cryptocurrency Use in Russia’s International Trade
12.8.2024
Russian President Vladimir Putin has signed a new law to establish experimental legal frameworks to advance digital technologies, particularly cryptocurrencies, in international trade. The legislation allows for the modification of laws to facilitate cryptocurrency transactions, including...
Putin Signs Law to Regulate Crypto Mining in Russia
11.8.2024
Russian President Vladimir Putin has enacted legislation to formally regulate the cryptocurrency mining sector in Russia, with the law set to take effect in November. This legislation establishes a regulated framework for mining operations, limiting participation from entities associated with...
Russia legalizes Bitcoin and cryptocurrency mining
8.8.2024
Russia explores other forms of international trade settlement following US sanctions blocking it from the SWIFT interbank messaging system
Russia legalizes Bitcoin and cryptocurrency mining
8.8.2024
Russia explores other forms of international trade settlement following US sanctions blocking it from the SWIFT interbank messaging system
Vladimir Putin Signs Law Legalizing Crypto Mining in Russia
8.8.2024
It’s a win for crypto in Russia. The country has officially legalized Bitcoin and crypto mining. On Thursday,…
Latam Insights Encore: El Salvador’s Proposal Opens the Door for Crypto-Based International Settlements
6.8.2024
Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency-based news from last week. In this edition, we discuss the recent proposal from El Salvador to settle their trade transactions with Russia using crypto, and how this might encourage...
Latam Insights: El Salvador Proposes Using Crypto for International Settlements; First Bitcoin-Funded Company Registered in Argentina
4.8.2024
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue: El Salvador proposes using crypto as a tool to complete international settlements with Russia, Argentina registers its first bitcoin-funded company, and...
Iran Backs Russia on BRICS Single Currency Initiative
3.8.2024
Iran plans to support Russia’s initiatives on creating a BRICS single currency and expanding national currency payments within the bloc, according to Iran’s Ambassador to Moscow, Kazem Jalali. The BRICS nations (Brazil, Russia, India, China, and South Africa) are exploring the creation of a...
State Duma Financial Market Committee Leader Envisions Bitcoin and Digital Ruble Exchanges
3.8.2024
Anatoly Aksakov, chairman of the Financial Market Committee of the State Duma, the Russian equivalent to the U.S. House of Representatives, has predicted that bitcoin and digital ruble exchanges will become a reality in the coming years. Aksakov also foresees the need for digital ruble-based...
Bank of Russia Expects Wide Adoption of Digital Ruble Within 5 to 7 Years
1.8.2024
Elvira Nabiullina, the governor of the Bank of Russia, declared that she expects the digital ruble, the Russian CBDC, to achieve a high level of acceptance due to the benefits it offers to Russian citizens. During a speech at the Federation Council, Nabiullina stated that it would be widely adopted...
El Salvador Proposes Settling Trade With Russia in Crypto
31.7.2024
According to local media, El Salvador has proposed using crypto to settle trade with Russia. Alexander Ilyukhin, the first secretary of the Russian embassy in Nicaragua and head of the office in El Salvador, said the measure would simplify trade dealings, considering El Salvador recognizes Bitcoin...
Russia to Initiate Crypto Payments Internationally by Year-End, Central Bank Governor Says
31.7.2024
Russia plans to launch international cryptocurrency payments by the end of the year to counter Western sanctions, according to the governor of the Bank of Russia. The central bank is prepared to be flexible and is already discussing the conditions of this initiative with various ministries...
Russia Legalizes Crypto Mining and Brings an Experimental Regime
30.7.2024
Russia's lower house of the Federal Assembly, known as the State Duma, has passed two crypto-related laws on Tuesday, a Russia based policy expert told CoinDesk and Ria Novosti, Russia's state-owned domestic news agency reported
Russia Legalizes Use of Bitcoin for Cross-Border Payment
30.7.2024
Russia has been a paragon of adopting crypto following the sanctions it faced during the war with Ukraine. The country has been witnessing increased use of digital assets not only among its citizens but also at the government level. In line with this, the Russian State Duma Committee on Financial...
Russian State Duma Deputy Chairman: BRICS SWIFT Counterpart Needed for Creating a New Economic Reality
28.7.2024
Alexander Babakov, Deputy Chairman of the Russian State Duma, highlighted the need to create a BRICS equivalent to the SWIFT messaging system, which routes payments alongside the current banking infrastructure. Babakov emphasized that this new system would help to reduce the dependence on Western...
Russia Advances Cryptocurrency Mining Bill
27.7.2024
Russia’s State Duma has advanced a bill to regulate cryptocurrency mining, aiming to curb illegal activities and promote investment and employment. Proposed by the chairman of the Duma Committee on Financial Markets and supported by key deputies, the bill mandates strict guidelines...