Russia

Pavel Durov, CEO of Telegram, is embroiled in a legal case in France that has created tensions between Russia and France. 

Pavel Durov Detained in France

<img src="https://static.bittime.com/cms-static/upload/Pavel_Durov_Detained_in_France_a034a24067.webp" alt="Pavel Durov Detained in France" width="2048" height="1152"><a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com?content_id=airdrop&amp;cn=400005">Bittime</a> - Recently, Pavel Durov, CEO of Telegram, was involved in a legal case in France that raised tensions between Russia and France. The Russian government also issued a strong warning to French.<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/register?content_id=airdrop&amp;cn=400005"><img src="https://static.bittime.com/cms-static/upload/Banner_2_988b13eca2.webp" alt="Banner 2" width="1999" height="415"></a><h2 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;text-align:justify;" dir="ltr">Pavel Durov Detention&nbsp;</h2>Pavel Durov was detained at Le Bourget airport, Paris, last week. This detention was based on allegations that Durov failed to control illegal content on the Telegram platform.&nbsp;After 4 days in custody, Durov was released on bail of €5 million (approximately $5.53 million), but on the condition that he remain in France and report 2 times a week to the local police.Read Also:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/blog/ceo-telegram-ditangkap-telegram-tegaskan-telah-patuhi-hukum-uni-eropa">Telegram CEO Arrested, Telegram Confirms It Complies with European Union Law!</a><h2 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;text-align:justify;" dir="ltr">Russia Warns French&nbsp;</h2>The Russian government expressed its full support for Durov and is ready to provide any assistance necessary to protect its citizens.&nbsp;The Russian government is very concerned that Durov's detention in French could be part of political persecution. In recent years, Russia has faced international criticism for its crackdown on political opposition and free speech.&nbsp;According to Russia, the Durov case could be used as an excuse by France to suppress parties who are not in line with certain political policies. The Russian government will continue to monitor this situation to ensure that Durov does not become a victim of political games.<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/reward/dogsairdrop?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/airdrop_dogs_bittime_14f57ae441.webp" alt="airdrop dogs bittime.webp" width="2985" height="620"></a><h2 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;text-align:justify;" dir="ltr">Pavel Durov and President of France&nbsp;</h2>Adding to the complexity of the case, news emerged that Durov was scheduled to meet with French President Emmanuel Macron shortly before his detention. This sparked speculation that Durov's detention may have been politically motivated.&nbsp;Durov's lawyers argued that the allegations against their client were baseless and more political than criminal.&nbsp;Previously, Durov was also known to have discussed with Macron the possibility of moving Telegram's headquarters to Paris, which further strengthens the suspicion that there are political factors in this case.Read Also:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/en/blog/ton-community-dukung-pavel-durov-dengan-kampanye-digital-resistance">TON Community Supports Pavel Durov with Digital Resistance Campaign</a><h2 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;text-align:justify;" dir="ltr">How to Buy Crypto with Bittime</h2><a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/how-to-buy?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/banner_cara_beli_ab926002c1.webp" alt="cara beli crypto di bittime" width="2985" height="620"></a>You can buy and sell crypto assets in an easy and safe way through Bittime. over is one of the best crypto applications in Indonesia which is officially registered with Bappebti.&nbsp;To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.&nbsp;Monitor graphic movement<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/BTC?cn=400001">&nbsp;</a>price&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/BTC?content_id=airdrop&amp;cn=400005">Bitcoin (BTC)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/ETH?content_id=airdrop&amp;cn=400005"> Ethereum (ETH)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/SOL?content_id=airdrop&amp;cn=400005"> Solana (SOL)</a>&nbsp;and other cryptos to find out today's crypto market trends in real-time on Bittime.

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Pavel Durov Detained in France.webp

Pavel Durov Detained in France, Russia Gives Stern Warning!

Russia recently announced ambitious plans to establish two crypto exchanges that will be located in Moscow and St. Petersburg. St. Petersburg.  Read the news here!

Russia Launches Global Crypto Exchange in Moscow and St. Petersburg St. Petersburg

Rusia Luncurkan Bursa Kripto Global di Moskwa dan St. Petersburg (1).webp

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Russia plans to establish two crypto exchanges in Moscow and St. Petersburg, to support Russian foreign economic activity.  

Russia Plans to Establish Crypto Exchanges

<img src="https://static.bittime.com/cms-static/upload/Russia_Plans_to_Establish_Crypto_Exchanges_681f049a31.webp" alt="Russia Plans to Establish Crypto Exchanges" width="2048" height="1152"><a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com?content_id=news&amp;cn=400001">Bittime</a> -&nbsp;Russia plans to set up two crypto exchanges in two major cities, Moscow and St. Petersburg. Petersburg, aimed at supporting Russia's foreign economic activity. Read this article to find out more!<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/register?content_id=airdrop&amp;cn=400005"><img src="https://static.bittime.com/cms-static/upload/Banner_2_988b13eca2.webp" alt="Banner 2" width="1999" height="415"></a><h2 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;text-align:justify;" dir="ltr">Crypto Exchanges in Two Big Cities of Russia</h2>The crypto exchange, which is planned to be built in the two largest and most influential cities in Russia, aims to support foreign economic activities, which include international transactions and cross-border trade.&nbsp;By using crypto, Russia hopes to reduce dependence on the international financial system which is currently dominated by the US dollar and the Western banking system.The first crypto exchange is planned to use infrastructure from St. Petersburg. Petersburg Foreign Exchange Exchange (SPVB). SPVB is an exchange that already has experience in handling international transactions, and this infrastructure is considered suitable to support the operations of a new crypto exchange.&nbsp;Meanwhile, a second exchange will be built in Moscow. However, until now there has been no final decision whether the exchange in Moscow will use the Moscow Exchange infrastructure or will be built separately using an experimental legal framework.Read Also:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/en/blog/rusia-pertimbangkan-penggunaan-stablecoin-untuk-pembayaran-internasional">Russia Considers Using Stablecoins for International Payments</a><h2 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;text-align:justify;" dir="ltr">Russian Law</h2>Legal experts in Russia state that these crypto exchanges will most likely be established under an experimental legal regime. This is often used by Russia to trial new innovations in a limited legal environment before being implemented nationally.&nbsp;That way, risks that may arise due to international sanctions can be better managed, while the benefits of new technology can be tested on a smaller and more controlled scale.According to some sources, access to this exchange will likely be given first to Russian "blue chip" companies, namely large companies that have stability and good financial performance.&nbsp;&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/reward/dogsairdrop?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/airdrop_dogs_bittime_14f57ae441.webp" alt="airdrop dogs bittime.webp" width="2985" height="620"></a><h2 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;text-align:justify;" dir="ltr">The Impact of the Establishment of Crypto Exchanges on the Russian Economy</h2>If this plan is successful, crypto exchanges in Moscow and St. Petersburg could have a significant impact on the Russian economy. First, the exchange could provide an alternative for Russian companies to conduct international transactions without having to go through the traditional banking system which is affected by sanctions.&nbsp;&nbsp;Second, this crypto exchange can also encourage innovation in the financial technology sector in Russia. With government support and an experimental legal framework, technology companies in Russia may be more emboldened to develop new products and services in the crypto sector.&nbsp;&nbsp;Read Also:&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/blog/rusia-legalkan-mining-bitcoin">Russia Legalizes Bitcoin Mining and International Trading Using Crypto&nbsp;</a><h2 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;text-align:justify;" dir="ltr">How to Buy Crypto with Bittime</h2><a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/how-to-buy?content_id=news&amp;cn=400001"><img src="https://static.bittime.com/cms-static/upload/banner_cara_beli_ab926002c1.webp" alt="cara beli crypto di bittime" width="2985" height="620"></a>You can buy and sell crypto assets in an easy and safe way via Bittime. over is one of the best crypto applications in Indonesia which is officially registered with Bappebti.&nbsp;To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum asset purchase at Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.&nbsp;Monitor graphic movement<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/BTC?cn=400001">&nbsp;</a>price&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/BTC?content_id=news&amp;cn=400001">Bitcoin (BTC)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/ETH?content_id=news&amp;cn=400001"> Ethereum (ETH)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/SOL?content_id=news&amp;cn=400001"> Solana (SOL)</a>&nbsp;and other cryptos to find out today's crypto market trends in real-time on Bittime.

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Russia Plans to Establish Crypto Exchanges.webp

Russia Plans to Establish 2 Crypto Exchanges in Moscow and St. Petersburg

Russia has passed a law that allows Bitcoin mining and international trade using cryptocurrencies.  

Russia Legalizes Bitcoin Mining

<img src="https://static.bittime.com/cms-static/upload/Russia_Legalizes_Bitcoin_Mining_8103ee0c35.webp" alt="Russia Legalizes Bitcoin Mining" width="2048" height="1152"><a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/?cn=400001">Bittime</a> -&nbsp;On July 25, Russia's State Duma passed a law allowing Bitcoin mining and allowing international trade using cryptocurrencies.&nbsp;&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/register?cn=400001"><img src="https://static.bittime.com/cms-static/upload/Banner_2_988b13eca2.webp" alt="Banner 2" width="1999" height="415"></a><h2 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;text-align:justify;" dir="ltr">Impact of New Law on Bitcoin Mining</h2>The newly passed law is scheduled to take effect on September 1 and is still awaiting final approval. The voting results showed that 404 votes were in favor of this law, which is equivalent to 89.8% of the total votes.&nbsp;With this law, Russia will establish a regulatory framework governing crypto mining activities, thereby ensuring compliance with tax regulations, and preventing illegal operations.One of the main features of this law is the legalization of Bitcoin mining. Although crypto is still banned for domestic payments, this law marks a significant shift in Russia's attitude towards digital assets.&nbsp;By officially regulating Bitcoin mining, Russia seeks to harness the economic potential of the industry while overcoming existing regulatory challenges.<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/staking?=cn400001"><img src="https://static.bittime.com/cms-static/upload/banner_staking_coin_8abe277d88.webp" alt="banner staking coin.webp" width="2985" height="620"></a><h2 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;text-align:justify;" dir="ltr">Economics and Regulation in Russia</h2>This new policy is a response to the challenges faced by the Russian banking sector due to international sanctions and regulatory restrictions. These sanctions have disrupted trade relations with key partners such as China, India, the United Arab Emirates (UAE) and Turkey.&nbsp;By allowing the use of crypto for international trade, Russia hopes to overcome some of the obstacles caused by sanctions and improve trade relations with these countries.This law is also expected to provide legal clarity and certainty for crypto industry players in Russia. With a clear regulatory framework in place, it is hoped that more investment and innovation will emerge in this sector, which in turn could provide a positive boost to the Russian economy.<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/blog?cn=400001"><img src="https://static.bittime.com/cms-static/upload/Banner_Blog_7d687b658d.webp" alt="Banner Blog.webp" width="2985" height="620"></a><h2 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;text-align:justify;" dir="ltr">Tax Regulations and Compliance</h2>One important aspect of this law is the establishment of a regulatory framework for crypto mining activities. This law aims to ensure that mining activities comply with applicable tax regulations.&nbsp;With this regulation, Russia hopes to prevent illegal practices that may arise in the crypto industry and ensure that all mining activities are carried out transparently and in accordance with the law.Additionally, the law also includes provisions to monitor and regulate the use of crypto in international trade. This is expected to strengthen Russia's position as a global player in the crypto sector and provide greater economic benefits for the country.<h2 style="line-height:1.38;margin-bottom:12pt;margin-top:12pt;text-align:justify;" dir="ltr">How to Buy Crypto with Bittime</h2><a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/how-to-buy?cn=400001"><img src="https://static.bittime.com/cms-static/upload/Banner_Daftar_Bittime_c71afe9bcb.webp" alt="Banner Daftar Bittime" width="2985" height="620"></a>You can buy and sell crypto assets in an easy and safe way via Bittime. I'm done is one of the best crypto applications in Indonesia which is officially registered with Bappebti.&nbsp;To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.&nbsp;Monitor graphic movement<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/BTC?cn=400001">&nbsp;</a>price&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/BTC?cn=400001">Bitcoin (BTC)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/ETH?cn=400001">&nbsp;Ethereum (ETH)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/SOL?cn=400001">&nbsp;Solana (SOL)</a>&nbsp;and other cryptos to find out today's crypto market trends in real-time on Bittime.

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Russia Legalizes Bitcoin Mining.webp

Russia Legalizes Bitcoin Mining and International Trading Using Crypto 

The Philippines Department of Justice has charged two Russian nationals with XRP theft. Read this article for the full story!

XRP Theft

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XRP Theft.webp

Philippines Charges Two Russian Citizens for XRP Theft  

The Russian Ministry of Finance submitted a proposal that proposes certain investors to trade digital assets on authorized exchanges.

Russia Cryptocurrency Trading

<img src="https://static.bittime.com/cms-static/upload/Russia_48181858d9.webp" alt="Russia Cryptocurrency Trading" width="2048" height="1152"><a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/?cn=400001">Bittime</a> -&nbsp;The Russian Ministry of Finance recently submitted a proposal proposing to allow a group of investors called “highly qualified investors” to trade digital assets on official exchanges such as the Moscow Exchange and the St. Petersburg Exchange. St. Petersburg.<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/register?cn=400001"><img src="https://static.bittime.com/cms-static/upload/Lucky_Draw_Bittime_beb1f19718.webp" alt="Lucky Draw Bittime.webp" width="746" height="155"></a><h2 style="line-height:1.38;margin-bottom:6pt;margin-top:18pt;text-align:justify;" dir="ltr">Support from the Big Russian Exchange</h2>Anatoly Aksakov, chairman of the State Duma's Financial Markets Committee, stated that Russia's largest exchanges are ready to handle crypto transactions.&nbsp;Aksakov stated that the law was created to develop the cryptocurrency space, they will soon join in the process. Hence, they didn't think there would be any problems with this.<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/staking?cn=400001"><img src="https://static.bittime.com/cms-static/upload/Staking_Meme_Coin_ff752494f6.webp" alt="Staking Meme Coin.webp" width="2985" height="620"></a><h2 style="line-height:1.38;margin-bottom:6pt;margin-top:14pt;text-align:justify;" dir="ltr">Ministry of Financial Proposal</h2>The Ministry of Finance's proposal includes trading digital assets on exchanges and trading systems registered with the central bank. Currently, the list includes 7 companies, Moscow Exchange, St. Petersburg Exchange, St. Petersburg International Commodity Exchange (SPIMEX), St. Petersburg Currency Exchange (SPCE), Oriental Exchange, National Commodity Exchange, and CTS Exchange.The proposal also proposes to establish special regulations for “highly qualified investors,” allowing digital asset transactions with a trading system license.&nbsp;Within the general regulatory framework, digital assets can be recognized as currency values, which allows their use as a means of payment in foreign trade agreements.<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/airdrop/Hamster_Kombat?cn=400001"><img src="https://static.bittime.com/cms-static/upload/Airdrop_Hamster_Kombat_Bittime_35b4153445.webp" alt="Airdrop Hamster Kombat Bittime.webp" width="1600" height="332"></a><h2 style="line-height:1.38;margin-bottom:6pt;margin-top:14pt;text-align:justify;" dir="ltr">Russia: Eksperimen Platform Cryptocurrency</h2>Currently, the State Duma is considering a draft law that would allow the central bank to start creating experimental cryptocurrency platforms for international settlements from September 1.&nbsp;The move reflects Russia's push to expand the use of cryptocurrencies domestically and internationally.If this proposal is approved, it could pave the way for wider use of cryptocurrencies in Russia, especially in international transactions.&nbsp;This could also attract the interest of foreign investors looking to utilize the Russian market for digital asset trading.&nbsp;&nbsp;<h2 style="line-height:1.38;margin-bottom:6pt;margin-top:18pt;text-align:justify;" dir="ltr">How to Buy Crypto on Bittime</h2><a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/how-to-buy?cn=400001"><img src="https://static.bittime.com/cms-static/upload/Cara_Beli_Crypto_di_Bittime_5d56928673.webp" alt="Cara Beli Crypto di Bittime.webp" width="776" height="273"></a>You can buy and sell crypto assets in an easy and safe way through Bittime. over is one of the best crypto applications in Indonesia which is officially registered with Bappebti.&nbsp;To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.&nbsp;Monitor graphic movement<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/BTC?cn=400001">&nbsp;</a>price&nbsp;<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/BTC?cn=400001">Bitcoin (BTC)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/ETH?cn=400001">&nbsp;Ethereum (ETH)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/SOL?cn=400001">&nbsp;Solana (SOL)</a>&nbsp;and other cryptos to find out today's crypto market trends in real-time on Bittime.

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Russia.webp

Russia Considers Cryptocurrency Trading for Certain Investors

Russia is discussing the possibility of using stablecoins for international payments. Read this article for the full story!

Russia Considers Using Stablecoins for International Payments

<img src="https://static.bittime.com/cms-static/upload/Russia_Considers_Using_Stablecoins_for_International_Payments_499cc36843.png" alt="Russia Considers Using Stablecoins for International Payments" width="2048" height="1152"><a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/?cn=400001">Bittime</a> -&nbsp;Russia is currently discussing the possibility of using stablecoins for international payments, as a strategic step to overcome Western sanctions and strengthen the country's financial system.&nbsp;<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/staking?cn=400001"><img src="https://static.bittime.com/cms-static/upload/Lucky_Draw_Bittime_072d476ddf.jpg" alt="Lucky Draw Bittime" width="746" height="155"></a><h2 style="line-height:1.38;margin-bottom:6pt;margin-top:14pt;text-align:justify;" dir="ltr">Russia: Stablecoins for International Payments</h2>Alexey Guznov, Deputy Chairman of the Russian Central Bank, revealed that a related proposal has been submitted and is currently being reviewed by the Ministry of Finance. The talks come amid reports that some Russian metal producers have started using USDT in transactions with trading partners in China.However, Even though the proposal has been submitted, there are still several technical aspects that need to be resolved. This includes setting up a whole chain that allows individuals and companies to receive, store and use these digital assets to settle international payments.According to the press service of the Ministry of Finance, this issue is being worked on and may be activated permanently, as happened with the approval of the digital financial assets (DFA) law passed in March. This shows the Russian government's seriousness in utilizing stablecoins to overcome obstacles faced in the international payment system.<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/login?cn=400001"><img src="https://static.bittime.com/cms-static/upload/Staking_Meme_Coin_3f18ac9bb9.jpg" alt="Staking Meme Coin" width="2985" height="620"></a><h2 style="line-height:1.38;margin-bottom:6pt;margin-top:14pt;text-align:justify;" dir="ltr">Support from Various Parties in Russia</h2>Various figures in Russia have expressed support for the use of stablecoins. Alexander Murychev, Executive Vice President of the Russian Union of Industrialists and Entrepreneurs, considers stablecoins very promising for international payments due to their flexibility and minimal volatility when making payments.&nbsp;The same goes for Natalia Milchakova, an analyst at Freedom Finance Global, who stated that transactions using stablecoins are difficult for third country regulators to track, making it attractive to make payments without worrying about being hit by secondary sanctions from Western countries.<a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/login?cn=400001"><img src="https://static.bittime.com/cms-static/upload/Gift_Bittime_15a13fc781.jpg" alt="Gift Bittime" width="1999" height="415"></a><h2 style="line-height:1.38;margin-bottom:6pt;margin-top:14pt;text-align:justify;" dir="ltr">Use of Stablecoins USDT in International Transactions</h2>Reports in June indicated that two leading Russian metal producers had used USDT to pay and receive payments from trading partners in China. This shows that although still on a small scale, the use of stablecoins for international transactions has begun to take place.Elvira Nabiullina, Governor of the Russian Central Bank, recently stated that the Russian Central Bank has softened its stance on the use of crypto for international payments. He encouraged use of crypto as a way to circumvent Western sanctions, as well as confirm the central bank's support for this initiative.<h2 style="line-height:1.38;margin-bottom:6pt;margin-top:14pt;text-align:justify;" dir="ltr">Benefits of Using Stablecoins</h2>Stablecoins, which are tokens pegged to the value of an asset or other fiat currency (mostly the US dollar), have several advantages in cross-border payments, such as the following.<ol style="margin-bottom:0;margin-top:0;padding-inline-start:48px;"><li style="background-color:transparent;color:#000000;font-family:Arial,sans-serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:decimal;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Minimal Volatility: Stablecoins have better price stability compared to other cryptocurrencies such as Bitcoin, thereby reducing the risk of drastic changes in value when making payments.</li><li style="background-color:transparent;color:#000000;font-family:Arial,sans-serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:decimal;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Transparency and Speed: Transactions using stablecoins can be carried out quickly and transparently, facilitating the international trade process.</li><li style="background-color:transparent;color:#000000;font-family:Arial,sans-serif;font-size:12pt;font-style:normal;font-variant:normal;font-weight:400;list-style-type:decimal;text-decoration:none;vertical-align:baseline;white-space:pre;" dir="ltr" aria-level="1">Avoidance of Sanctions: Stablecoin transactions are difficult for third country regulators to track, allowing users to avoid secondary sanctions imposed by Western countries.</li></ol><h2 style="line-height:1.38;margin-bottom:6pt;margin-top:14pt;text-align:justify;" dir="ltr">Stablecoin Transactions Require High Security</h2>While there is a lot of potential in using stablecoins for cross-border payments, there are still several challenges that need to be overcome. This includes effective regulation and supervision of the entire stablecoin transaction chain to ensure the security and reliability of the payment system.However, with commitment from the Russian Central Bank and support from various industry figures, there is hope that stablecoins can be an effective solution to overcome the obstacles faced in Russia's international payments system. If successful, this would be a significant step in strengthening the country's financial system and opening up new opportunities in international trade.<h2 style="line-height:1.656;margin-bottom:6pt;margin-top:14pt;text-align:justify;" dir="ltr">How to Buy Crypto with Bittime</h2><a target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/how-to-buy?cn=400001"><img src="https://static.bittime.com/cms-static/upload/Cara_Beli_Crypto_di_Bittime_8a66f330dc.jpg" alt="Cara Beli Crypto di Bittime" width="776" height="273"></a>You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.&nbsp;To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.&nbsp;Monitor graphic movement<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/BTC?cn=400001">&nbsp;Bitcoin (BTC)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/ETH?cn=400001">&nbsp;Ethereum (ETH)</a>,<a style="text-decoration:none;" target="_blank" rel="noopener noreferrer" href="https://www.bittime.com/price/SOL?cn=400001">&nbsp;Solana (SOL)</a>&nbsp;price and other cryptos to find out today's crypto market trends in real-time on Bittime.