Cryptocurrency For Cross-Border Payments: Russian Lawmakers Vote to Also Tighten Crypto Mining Rules

Russian lawmakers vote to tighten rules on cryptocurrency mining, while also paving the way for it to be used in cross-border payments as a means to skirt Western sanctions. The new laws, yet to be signed by President Vladimir Putin, would enable Russia's central bank to set up a pilot project to explore the use of cryptocurrency -- previously not a permitted means of payment -- in cross-border transactions. Russia has been cut off from swathes of the global payments network in response to its full-scale military offensive on Ukraine, complicating its ability to trade internationally. Watch this video for the complete information!