Join the larget crypto conference of 2023 in Bitcoin

OKX BOTS

cryptocurrencies are currently intensifying in society with sanctions: Russia

cryptocurrencies are currently intensifying in society with sanctions: Russia 13

The head of the Russian finance committee talked about the increasing pressure on the adoption of cryptocurrencies & CBDC because of the increasing sanctions on the nation by Western countries.

Crypto trading is fully legal in the Russian Federation, as per a crypto bill introduced by the Russian government in January 2021. But still, Russia’s central bank, the Bank of Russia, proposed a ban framework on the crypto sector in late 2021, and also some government agencies supported this initiative of the Central Bank. Later the whole situation changed when Western countries imposed financial sanctions on Russia because of the Russian vs Ukraine conflict.

On 26 September, Reuters reported that Russian government agencies, which include a financial committee, are working to reduce the dominance of the United States in the international financial system. 

Reportedly Anatoly Aksakov, head of the finance committee in Russia’s lower house of parliament, noted that pressure on the adoption of cryptocurrencies & Central Bank Digital Currency (CBDCs) increasing because of the increasing financial & trade sanctions by the Western countries on the country.

“The topic of digital financial assets, the digital roble and cryptocurrencies are currently intensifying in society, as Western countries are imposing sanctions and creating problems for bank transfers, including in international settlements.”

By considering these issues, Russia may launch CBDC or crypto assets backed payment system and probably it will degrade the dominance of the US dollar in the global financial economy because people will shift toward the new option.

“If we launch this, then other countries will begin to actively use it going forward, and America’s control over the global financial system will effectively end.”

Initially the work on Russian CBDC, or say Digital Ruble, was started around a couple of years ago and recent few reports claimed that the test of Russian ruble has been started but now the situation has changed and here Russia may soon introduce its digital Ruble as an international payment settlement tool, atleast it will be supported with China’ digital Yuan.

Read also: Bitcoin miners showing significant inclination toward nuclear energy

cryptocurrencies are currently intensifying in society with sanctions: Russia

 

https://bitcoinik.com/cryptocurrencies-are-currently-intensifying-in-society-with-sanctions-russia/feed/

https://bitcoinik.com/cryptocurrencies-are-currently-intensifying-in-society-with-sanctions-russia/feed/

 

 

 

 

 

Ads by Cryptonews24

OKX - Moon Trade

Moon Grid trading bot
OKX’s new Moon Grid bot automatically buys low and
sells high within a wide price range using artificial intelligence based on market backtesting.
Quick to set up with smart entry and exit points!

How does it work?

  • Select Trade in the main menu, then select Trading bot.
  • Select a spot trading pair from the Trading bot menu.
  • Select Moon Grid from the listed strategies.
  • Enter the amount you want the bot to trade and click Create.
  • Your bot will then be live.
  • To view and manage your Moon Grid bot, select Bots at the bottom of the trading dashboard.

 

Trade with Moon Grid now
 

—————————————————————————————————————————————-

Ads by Cryptonews24

 

 

 

Risk Reminder:
Trading foreign exchange and/or contracts for differences on margin carries a high level of risk and may not be suitable for all investors.
The possibility exists that you could sustain a loss in excess of your deposited funds.
Before deciding to trade the products reviewed by Cryptonews24.eu, you should carefully consider your objectives, financial situation, needs and level of experience.
You should be aware of all the risks associated with trading on margin.
Cryptonews24.eu provides general news and advice that does not consider your objectives, financial situation or needs.
The content of this website must not be construed as personal advice.
Cryptonews24.eu recommends you seek advice from a separate financial advisor.
Nothing on this website should be considered financial advice.
This website is for informational purposes only and you should not rely on anything that is printed or said on this website to make any financial decisions.

 

Please follow and like us:
Social media & sharing icons powered by UltimatelySocial