In today’s short formal article, we will discuss the fantastic news of Russia’s involvement in cryptocurrencies. The Bank of Russia and the Ministry of Finance have agreed to continue forward with the use of crypto payments for international trade. This is another fantastic win for the cryptocurrency realm. Furthermore, more countries and businesses keep stepping in (having crypto use in some form or another), showing the strong case of how valuable Bitcoin and cryptocurrencies are.
Today, it was stated by the Russian government correspondences that “it is impossible to continue without enabling cryptocurrency as a legal payment method for international trades.” This shows that Russia has done its homework and understands how cryptocurrencies and the blockchain can benefit their entire country. Furthermore, Russia knows how technologically advanced Bitcoin and many cryptocurrencies are, so moving forward without them would put Russia in a deficit against other countries at some point.
Russia still needs to put lawful regulations around using cryptocurrencies for international trade, but they are focusing on getting that finished as soon as possible. I foresee Russia getting this all accomplished very soon. As crypto keeps moving and growing, so will the entire world right along with it!
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Written by: Matt Senn