Here is When Russia Will Begin Testing Crypto Exchanges and Payments

Russia is preparing to start testing cryptocurrency exchanges and digital token payments on September 1 to ease payment difficulties caused by international sanctions.

These tests will reportedly involve the National Payment Card System and, if successful, could pave the way for the creation of cryptocurrency trading platforms.

This system, established by the central bank in 2014, was chosen because of the existing infrastructure and regulatory framework that already supports national interbank payments and Mir cards.

Recently passed legislation legalizes cryptocurrency mining and establishes rules for digital tokens used in cross-border transactions, all of which are overseen by the central bank.

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If the tests are successful, Russia could allow the Moscow Exchange and the St. Petersburg Currency Exchange to set up cryptocurrency trading platforms as early as next year. According to the sources, they could include any existing cryptocurrency.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.