⚡Russia legalized cryptocurrency⚡

The State Duma has adopted a law allowing cross-border settlements and exchange trading in digital currency within the framework of experimental legal regimes (ELR) from September 1, 2024.

The Bank of Russia is vested with the functions of an authorized and regulatory body on ELR issues in this area.

The Bank of Russia will be responsible for monitoring the activities of ELR initiators. Its task is to identify risks of harm to the country's defense and security, as well as risks of money laundering.

This is a significant step towards embracing the future of finance in Russia! It will be interesting to see how this new law shapes the cryptocurrency landscape and promotes innovation in the country. 💡🚀