FROM TLDR Crypto 2024-07-05
Russian government considering legalizing stablecoins for cross-border payments (2 minute read)
- Russia is considering regulating the entire transaction chain, from transferring these assets into the country to accumulating and utilizing them for cross-border payments.
Assad Jafri
Jul. 3, 2024 at 8:48 pm UTC
Updated: Jul. 3, 2024 at 8:48 pm UTC
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Russia is considering legalizing stablecoins for international transactions to improve cross-border payments and mitigate the effects of ongoing sanctions. The Russian Central Bank is looking to regulate the transaction chain from entry to utilization. Its initiative would primarily target facilitating transactions with BRICS countries effectively integrating stablecoins into the national framework for international settlements.
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This is another nail in the coffin of the USA dollar and the SWIFT funds transfer system.
Our politicians and bureaucrats have really screwed the pooch this time.
Now assets will move bypassing and being transparent to the USA.
Good job, Guys. Incentivize the rapid adoption of a competitive technology.
Argh!
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Posted by reinkefj 
Reinke Faces Life 