Russia is about to start experimenting with encrypted payments and exchanges

According to foreign media reports, Russia is about to begin experimenting with cryptocurrency exchanges and using digital tokens in cross-border transactions to help alleviate payment difficulties for Russian companies hit by international sanctions. Two informed sources stated that the trial will begin on September 1st. They stated that when testing payment and trading platforms, Russia will use the national payment card system to exchange between rubles and cryptocurrencies. In July of this year, the Russian parliament passed a bill to legalize cryptocurrency mining and approved a framework that allows testing of digital tokens for cross-border payments under the supervision of the central bank. Russian President Putin signed these bills into law on August 8th. At the time of conducting cryptocurrency experiments, Russian companies are facing increasing obstacles in making payments to overseas suppliers and obtaining payments for exported goods.