Russia has outlined its strategy to integrate cryptocurrency into BRICS international trade, aiming to reduce the U.S. dollar's influence. The plan involves launching two crypto exchanges—one in Moscow and another in St. Petersburg—under a special legal framework. These exchanges will initially serve "blue-chip" companies engaged in foreign economic activities (FEA) within BRICS. The St. Petersburg exchange may leverage the existing SPCE framework, while details of the Moscow exchange's structure remain unclear.

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A crucial aspect of this initiative is the creation of stablecoins linked to the yuan and a BRICS currency basket. However, the project faces significant challenges, including issues with blockchain technology and regulatory uncertainties. The new exchanges are under close scrutiny, with concerns about transparency and the impact of sanctions, which could undermine the project's credibility and market confidence.#RussiaCrypto #tipneeded #LowestCPI2021 #SahmRule