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Source: Aiying Payment Compliance
For a long time, Russia has been conservatively in cryptocurrencies.The Russian government and the central bank are generally worried about the potential threat of cryptocurrencies on financial stability, and worried about their use in illegal activities, so strict regulatory measures have been taken.Prior to this, Russia tried many times to restrict the use of cryptocurrencies in China, and introduced laws that prohibit private cryptocurrencies from circulating in China.
However, with the intensification of international sanctions, especially after Russia suffered a wide range of economic sanctions due to Ukraine conflicts, Russia had to re -evaluate its position on cryptocurrencies.These sanctions have a serious impact on Russia’s economy, especially its international trade, and make Russia face huge challenges in the global financial system.Traditional financial payment channels (such as SWIFT) are restricted, and Russian companies have encountered many difficulties when conducting international payment.
In this context, the Russian government began to consider using cryptocurrencies as a substitute international payment tool to bypass sanctions and maintain the continuity of economic activities.On July 30, 2024, the Russian State Duma passed a key bill that allows the use of cryptocurrencies in cross -border paymentEssenceThis marks a major change in Russia’s attitude towards cryptocurrencies.Through this bill, Russia not only hopes to solve the current payment dilemma, but also hopes to promote its innovation and development in the field of digital economy.
In addition, Russia also plans to find a balance in the parallel development of digital rubles and cryptocurrencies.Although digital rubles are still officially recognized digital currencies, they do not exclude cryptocurrencies for cross -border payment as national policy.
Russia promotes the strategic deployment of two major cryptocurrency exchanges
On August 23, according to the Russian “Business News” report, the Russian government is actively promoting the establishment of two cryptocurrency exchanges in Moscow and St. Petersburg.This move is not only to deal with financial challenges brought about by international sanctions, but also to occupy a place in the global digital economy.
According to Aiying Aiying’s plan to learn about the Moscow ExchangeMoscow’s cryptocurrency exchanges may use the existing Moscow Exchange (MOEX) infrastructure to expand and develop.As the main financial center of Russia, the Moscow Exchange has rich technical and management experience and can effectively support the transaction and liquidation system of cryptocurrencies.The main of this new exchangeThe goal is to promote the application of cryptocurrencies in international trade, especially in the current background of sanctions, providing a feasible cross -border payment solution.By using the existing resources and networks of the Moscow Exchange, this cryptocurrency exchange will be able to quickly establish a solid market position to provide Russian international trade partners with a reliable trading platform.
Planning of St. Petersburg ExchangeIn contrast, the cryptocurrency exchange of St. Petersburg plans to rely on the infrastructure of the St. Petersburg Currency Exchange (SPCE).St. Petersburg is another important financial center in Russia, especially in the field of foreign trade.SPCE has accumulated rich experience in dealing with commodity transactions and foreign exchange transactions, which makes it an ideal platform to support cryptocurrency transactionsEssenceThe main function of the exchange will provide new financial instruments for Russia’s foreign trade activities, help enterprises bypass the barriers to payment caused by sanctions, and continue to carry out effective trade with the international market.By using SPCE’s mature platform, St. Petersburg’s cryptocurrency exchanges will be able to provide more flexible and diverse payment options for Russia’s foreign trade companies.
At the current settlement session, a large obstacle is how trading companies can buy stable coins reasonably and legally, and the exchanges coincide at the time, maybe it is the result of the development needs of market demand.
RMB -linked BRICS stablecoin: strategic planning and implementation
The two cryptocurrency exchanges launched by Russia are not only to cope with the current international economic sanctions, but also shoulder an important mission to promote economic cooperation between Bright countries.According to Aiying AiyingOne of the core goals of these two exchanges is to promote the creation and use of Brigs stable currency linked to RMB.The launch of Brics stabilizer is deemed to be a key measure to strengthen economic connection and reduce the dependence on the US dollar between the Bright countries (including Brazil, Russia, India, China, and South Africa).
The role of stable currencyBRICS stabilizer will be a kind ofDigital currency linked to RMB,,It aims to be a tool for trading settlement between the BRICS countriesEssenceThe design of this stablecoin is to cope with the economic imbalances and sanctions risks brought about by the current dominant position of the global financial system.By stable currency, the BRICS country can bypass the US dollar to conduct cross -border payment directly, thereby reducing transaction costs and reducing uncertainty caused by exchange rate fluctuations.
The use of stablecoins will also promote economic integration between Bright countriesEssenceBy providing a uniform and stable settlement tool, Brigs stabilizer can accelerate the economic flow in the region and promote trade and investment between member states.The transparency and decentralized characteristics of this digital currency can reduce the dependence of traditional financial systems while improving transaction efficiency, thereby enhancing the financial autonomy of the BRICS country.
Russia’s strategic considerationFor Russia, the use of Brics stabilized currency will not only help respond to Western sanctions, but also an important means for its re -positioning in the global economy.Russia hopes that through this stablecoin, to further strengthen its economic connection with Bright countries such as China and promote the development of the multilateral trading systemEssenceIn addition, the use of BRICS stabilizer will provide Russia with a new economic growth point to help it occupy a more favorable position in the digital economy.
In the context of current international sanctions, Russia’s promotion of cryptocurrency policy is of great significance.
