Russia mulls cross-border settlements in crypto in H2 2024
Russia is betting big on crypto, aiming to legalize cross-border transactions in digital currencies by the second half of 2024. In a statement to the Russian newspaper Izvestia, Anatoly Aksakov, the head of the State Duma’s Financial Market Committee, supported the proposal to use crypto for cross-border payments, saying the idea is “absolutely right.” “We will exert maximum effort to pass the law in the first reading in March [2024], and in April-May in the second reading. This way, in the second half of 2024, businesses will be able to conduct cross-border settlements with crypto currency legally.” Anatoly Aksakov The Russian official did not rule out that eventually sanctioned Russian stock exchange SPB Exchange might eventually act as a third-party provider in these operations. However, Aksakov declined to go into the details. In early November, Washington directed its focus toward SPB Exchange as part of comprehensive new measures designed ...