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Financial revolution: Russia challenges sanctions with Cryptocurrency payments!

Andrea Belvedere
3 min readAug 1, 2024

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https://ria.ru/20240730/gosduma-1962953668.html

Have you ever felt like you’re up against a system designed to hold you back? Well, you’re not alone. Russia is facing a similar challenge but with an innovative solution that could change the game: international payments in cryptocurrencies .

Imagine being a major nation, tied to international payment systems that don’t work in your favor. Economic sanctions shut doors, slow down your business, and increase costs. And all of this happens simply because the world has decided you can’t play by the same rules as everyone else.

So what do you do when the system oppresses you? You start building a new one. And that’s exactly what Russia is doing. The State Duma has just approved a law that will allow cryptocurrency payments for foreign trade. Yes, you heard that right: cryptocurrencies, a payment method that was, until recently, considered taboo.

Why this change of direction? Because it has become necessary. With banks from trading partners like China, India, and the UAE becoming increasingly cautious under the pressure of Western regulators, Russia had to find a solution. And here comes blockchain and virtual currency to the rescue.

This is not just about challenging economic sanctions. It’s about taking back control, about no longer…

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Andrea Belvedere
Andrea Belvedere

Written by Andrea Belvedere

Tech Writer at New Technology, Blockchain & AI. From Italy

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