Altcoins Talks - Cryptocurrency Forum

Further Discussions => Legality & Taxation of Cryptos => Topic started by: sirty143 on July 05, 2024, 07:14:28 AM

Title: Russia in the Process of Regulating the Use of Stablecoins for Cross-Border Sett
Post by: sirty143 on July 05, 2024, 07:14:28 AM
Russia in the Process of Regulating the Use of Stablecoins for Cross-Border Settlements

Russia is considering adding the subject of stablecoins to an upcoming bill, allowing them to be used officially for completing cross-border payments. Alexey Guznov, Deputy Chairman of the Bank of Russia, declared that proposals have already been... See more for yourself here (https://news.bitcoin.com/russia-in-the-process-of-regulating-the-use-of-stablecoins-for-cross-border-settlements/).

Your opinion is greatly appreciated.
Title: Re: Russia in the Process of Regulating the Use of Stablecoins for Cross-Border Sett
Post by: dkbit98 on July 05, 2024, 05:26:37 PM
New regulations usually means more taxation, but this could be a start of much bigger problem related with sanctions connected from many other countries.
Most people are using USDT and it is even mentioned as example in this article, I can only imagine a lot of addresses getting blacklisted and frozen just because they are used in Russia.
Title: Re: Russia in the Process of Regulating the Use of Stablecoins for Cross-Border Sett
Post by: Aanuoluwatofunmi on October 08, 2024, 11:43:47 PM
Quote from: sirty143 on July 05, 2024, 07:14:28 AM
Russia in the Process of Regulating the Use of Stablecoins for Cross-Border Settlements

Russia is considering adding the subject of stablecoins to an upcoming bill, allowing them to be used officially for completing cross-border payments. Alexey Guznov, Deputy Chairman of the Bank of Russia, declared that proposals have already been... See more for yourself here (https://news.bitcoin.com/russia-in-the-process-of-regulating-the-use-of-stablecoins-for-cross-border-settlements/).

Your opinion is greatly appreciated.

Ever since the impeding sanction given on Russia then I've expected from them to have an alternative with digital currency like bitcoin, because this will help them in many ways, but they are not ready to lay in for the adoption of bitcoin as a legal tender ever since then till now, despite they were being aware of how Russians are actively involved in cryptocurrency and how the use of bitcoin could help in solving many financial challenges.
Title: Re: Russia in the Process of Regulating the Use of Stablecoins for Cross-Border Sett
Post by: Findingnemo on October 25, 2024, 08:24:59 PM
Quote from: Aanuoluwatofunmi on October 08, 2024, 11:43:47 PM
Quote from: sirty143 on July 05, 2024, 07:14:28 AM
Russia in the Process of Regulating the Use of Stablecoins for Cross-Border Settlements

Russia is considering adding the subject of stablecoins to an upcoming bill, allowing them to be used officially for completing cross-border payments. Alexey Guznov, Deputy Chairman of the Bank of Russia, declared that proposals have already been... See more for yourself here (https://news.bitcoin.com/russia-in-the-process-of-regulating-the-use-of-stablecoins-for-cross-border-settlements/).

Your opinion is greatly appreciated.

Ever since the impeding sanction given on Russia then I've expected from them to have an alternative with digital currency like bitcoin, because this will help them in many ways, but they are not ready to lay in for the adoption of bitcoin as a legal tender ever since then till now, despite they were being aware of how Russians are actively involved in cryptocurrency and how the use of bitcoin could help in solving many financial challenges.
Legal tender is big step before that they will try every options available because accepting Bitcoin as legal tender will bring huge change in the countries economy so they have to be prepared for that before doing it. Russia is so far doing okayish with other ways like Brics to do the international trade and accepting their own fiat instead of USD but if they accept Bitcoin that will bring a standardization in the value.