ChainCatcher news, the Governor of the Central Bank of Russia stated that Russia plans to launch international cryptocurrency payments by the end of this year to counter Western sanctions. The central bank is prepared to take flexible measures and has already been discussing the conditions of this initiative with various ministries, agencies, and enterprises.In addition, the State Duma of Russia (the lower house of parliament) has preliminarily approved legislation allowing businesses to use cryptocurrency for international payments.

Chain Catcher news, Russian authorities plan to regulate the issuance, circulation, and various operations of digital assets by the end of 2022, including international crypto payments.Currently, the Ministry of Finance, the Central Bank of Russia, and the Rosfinmonitoring agency are responsible for this task. Russian regulators have turned their attention to the settlement mechanism for foreign trade cryptocurrency payments. (Bitcoin.com)