Russia Launches Cryptocurrency Exchange Trials for Cross-Border Payments

On September 1, 2024, Russia initiated regulated trials of cryptocurrency exchanges focused on cross-border payments. This development marks a pivotal step in the country’s effort to circumvent Western sanctions and enhance its financial autonomy. The trials are expected to provide insights into how cryptocurrency can be integrated into Russia's broader financial infrastructure, offering new opportunities for international trade and economic resilience in the face of global restrictions.