👉👉👉 Russian Parliament Set to Approve Use of ‘ #digitalassets ’ in International Payments

Russian lawmakers are poised to potentially pass legislation this week that would permit companies within the nation to utilize "digital financial assets" in the realm of international payments. However, according to RBC, the proposed law does not encompass #cryptocurrencies , despite many Russian enterprises already leveraging tokens like Bitcoin ($BTC ) for trade with overseas counterparts.

- Expected Vote in Russian Parliament

The State Duma Committee on the Financial Markets greenlit new amendments to the draft law on February 21. Having cleared the initial hurdle of a first reading in the lower parliamentary house, the bill awaits a second reading before potential Senate approval.

These amendments aim to authorize "the utilization of digital assets in foreign trade transactions between Russian residents and non-residents," as well as enable traders to incorporate these assets into contracts and transactions.

Russian lawmakers now specifically categorize digital assets under "digital financial assets" (DFAs), including digital rubles, regulated stablecoins, and digital securities. Terms like "cryptocurrencies" or "private cryptocurrencies" typically refer to assets like Bitcoin, altcoins, and others.

- Addressing Potential Impacts and Concerns

Aksakov sees the draft law as a partial shield against Western sanctions. Experts caution about technological barriers hindering widespread cryptocurrency use in international payments. Maria Telegina from the Moscow Digital School worries about practical implementation and the bill's oversight of cryptocurrency's role in global transactions.

Nonetheless, Russia pursues its digital ruble to reduce reliance on the US dollar. Belarus and Kazakhstan also advance their CBDCs, potentially compatible with China's digital yuan.

Source - cryptonews.com

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