TechFlow news, according to BeInCrypto, Anatoly Aksakov, chairman of the State Duma Committee on Financial Markets, said that the Central Bank and Ministry of Finance of Russia are developing regulations for cross-border cryptocurrency payments, expected to be completed by the end of November. On September 1, a law allowing the use of cryptocurrencies in foreign trade came into effect, but specific implementation rules have not yet been issued. In the initial phase, the crypto payment mechanism will be tested under an experimental legal regime, limited to certain credit institutions and banks. Aksakov emphasized that cryptocurrencies will only be used for foreign trade, and their use in domestic payments will remain prohibited. It is reported that some companies are already using cryptocurrencies in import and export payments, with transaction volumes estimated at several billion dollars.
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