$PI Russia announces that foreign trade can be settled with cryptocurrencies. Which country will be the next to follow? Guess, comrades.

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LakeBaikalIsMyHome
· 04-24 08:18
Russia has officially advanced legislation to use cryptocurrencies for foreign trade settlements.

Latest developments (April 22, 2026)

- The Russian State Duma (lower house) approved the cryptocurrency regulation bill in the first reading, clarifying:

- Prohibiting the use of cryptocurrencies for domestic payments, with the ruble remaining the only legal currency.

- Allowing cryptocurrencies for foreign trade/cross-border transaction settlements to circumvent Western sanctions.

- The bill is scheduled to take effect on July 1, 2026, after second and third readings, review by the Federation Council, and presidential signing.

- The Central Bank is responsible for licensing and regulation; only licensed exchanges/institutions can provide related services.

- Transactions exceeding 100k rubles (about $1,300) must be reported to the Central Bank and anti-money laundering agencies.

Background and Pilot Program

- Since September 2024, cross-border cryptocurrency settlements have been permitted within an experimental framework.

- Russian companies have used Bitcoin, stablecoins, and others to settle for oil, metals, grains, and more with partners in China, Turkey, India, and other countries.

- Goal: bypass SWIFT, reduce dependence on the US dollar, and lower the impact of sanctions.
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DoesThatLaoLaoTreatYouWell?
· 04-24 08:16
Just charge forward 👊
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GateUser-2216933f
· 04-24 07:08
Just charge forward 👊
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