Russia considers legalizing crypto for global payments as it faces ongoing sanctions

Key Points

The lower house of the Russian Parliament will consider a law that permits making international payments via cryptocurrencies, Russia’s central bank governor Elvira Nabiullina said Tuesday.
Russia’s central bank is also itself looking to move money across borders using crypto before the end of 2024, Nabiullina said.
The U.S. and its allies have imposed innumerable sanctions on Russian individuals and entities in retaliation to its assault on Ukraine.

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