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RUSSIA IS ABOUT TO TURN ON THE "GREEN LIGHT" FOR FOREIGN STABLECOINS!
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The Central Bank of Russia proposed to allow businesses to purchase foreign stablecoins, but excluding USDT and USDC due to their connection with U.S. bonds.
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The draft is open for feedback until June 15, and could be implemented as soon as this month!
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HOT DETAILS:
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Russian businesses are free to own foreign stablecoins without the need for professional investor certification.
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USDT and USDC are still used in international trade, paving the way for cooperation with BRICS (China, India, Brazil) on gold-backed or non-USD stablecoins.
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The investment limit for digital assets for individuals is doubled: from 600,000 to 1 million rubles/year (~12,000 USD).
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WHAT'S HAPPENING?
Amid Western sanctions, Russia is ramping up digital assets to facilitate international transactions and reduce dependency on the USD. This is a huge opportunity for the crypto market in Russia!
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NOTE: Investors need to closely monitor policies and price volatility risks!