Russia is taking significant steps toward allowing banks and financial institutions to work directly with cryptocurrencies. The Bank of Russia has proposed regulations for cryptocurrency use, setting the stage for increased integration into international trade. This move aligns with the country’s strategy to leverage digital currencies amidst sanctions. 🔑 💰 The Russian central bank will supervise banks and digital asset operators under its regulatory umbrella. VTB bank is also developing a blockchain monitoring system by 2025, further illustrating Russia’s commitment to utilizing this technology. 🤖 This regulation focuses on using cryptocurrencies for international trade settlement, aligning with the existing policy that allows for digital currency payments in international trade since 2024. It’s expected to boost demand for established cryptocurrencies like Bitcoin, Ethereum, and stablecoins.