TechFlow news, August 26 — According to Jinshi Data, foreign media reported that Russia is about to launch a trial of cryptocurrency exchanges and use digital tokens in cross-border transactions, aiming to ease payment difficulties faced by Russian companies hit by international sanctions. Two sources familiar with the matter said the trial will begin on September 1. They added that during the testing of payment and trading platforms, Russia will use its national payment card system to facilitate exchanges between rubles and cryptocurrencies.
Earlier report: In July this year, Russia's parliament passed bills legalizing cryptocurrency mining and established a framework allowing the testing of digital tokens for cross-border payments under the supervision of the central bank. President Vladimir Putin signed the legislation into law on August 8. As Russia prepares for the cryptocurrency trial, Russian companies are encountering growing obstacles in making overseas supplier payments and receiving payments for exported goods.
