Russia’s Crypto Revolution: Embracing Digital Assets Amidst Sanctions

Sanctions-hit Russia rushes to set up payment systems, including crypto, to make trading easier. Russia legalizes crypto mining and brings an experimental regime. Plus, Russia will use cryptocurrency to handle backlogged payments to allies amid Western sanctions. Also, Russia passes new cryptocurrency law in an effort to dodge Western sanctions.

Sources:
https://www.businessinsider.com/russia-economy-moscow-cryptocurrency-bill-digital-ruble-trade-payments-sanctions-2024-7
https://www.coindesk.com/policy/2024/07/30/russia-legalizes-crypto-mining-and-brings-an-experimental-regime/
https://www.foxbusiness.com/economy/russia-use-cryptocurrency-handle-backlogged-payments-allies-western-sanctions-reports
https://kyivindependent.com/russia-passes-new-cryptocurrency-law-in-effort-to-dodge-western-sanctions/

Outline:
(00:00:00) Introduction
(00:00:44) Sanctions-hit Russia is rushing to set up payment systems, including crypto, to make trading easier
(00:04:00) Russia Legalizes Crypto Mining and Brings an Experimental Regime
(00:07:06) Russia will use cryptocurrency to handle backlogged payments to allies amid Western sanctions: reports
(00:09:23) Russia passes new cryptocurrency law in effort to dodge Western sanctions