Foreign media: Russia is about to start trials for cryptocurrency payment and trading platforms

ChainCatcher news, according to Jinshi's disclosure, foreign media reports that Russia is about to begin trials for cryptocurrency exchanges and will use digital tokens for cross-border transactions to help alleviate the payment difficulties faced by Russian companies impacted by international sanctions.

Two informed sources stated that the trial will start on September 1. They mentioned that while testing the payment and trading platform, Russia will use the national payment card system to exchange between the ruble and cryptocurrency.

In July this year, the Russian parliament passed a bill to legalize cryptocurrency mining and established a framework to allow 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 8.

As the cryptocurrency trials are underway, Russian companies are facing increasing obstacles in making payments to overseas suppliers and receiving payments for exported goods.