Russia passed a bill to allow businesses to use cryptocurrencies in international trade starting in September, aiming to bypass Western sanctions.
This new law is supported by the central bank and aims to ease payment delays with key trading partners like China, India, and the UAE. It will also include regulations on crypto mining and digital assets, but doesn't lift the ban on crypto payments within Russia.
The central bank will set up an "experimental" infrastructure for crypto payments, with the first transactions expected by year end.