Russia Launches Cryptocurrency Trials for Cross-Border Payments Amid Sanctions

Published On: August 27, 2024 - As international sanctions put pressure on Russia's economy, the country is set to trial a new cross-border payments system based on cryptocurrency starting September 1. Utilizing the National Payment Card System (NPCS), this initiative aims to ease financial strains on Russian companies facing payment challenges. With legislation recently passed to legalize cryptocurrency mining and regulate digital tokens, and President Putin signing these bills into law, Russia is making a significant shift from its previous stance on cryptocurrencies. This video explores how these trials could impact Russia's international trade and financial strategies.