Russia to start trial of cryptocurrency payment and trading platform

BlockBeats news, on August 26, according to foreign media reports, Russia is about to start trials of cryptocurrency exchanges and use digital tokens in cross-border transactions to help ease the payment difficulties of Russian companies hit by international sanctions.

Two people familiar with the matter said the trial will begin on September 1. They said that when testing payment and trading platforms, Russia will use the national payment card system to exchange between rubles and cryptocurrencies.

In July this year, the Russian parliament passed bills to legalize cryptocurrency mining and passed a framework to allow testing of digital tokens for cross-border payments under the supervision of the central bank. Russian President Vladimir Putin signed the bills into law on August 8.

And at a time when cryptocurrency trials are being conducted, Russian companies are facing increasing obstacles in paying overseas suppliers and getting paid for exported goods. (Jinshi)