{"id":86128,"date":"2024-08-08T22:30:22","date_gmt":"2024-08-08T22:30:22","guid":{"rendered":"https:\/\/www.globalizationpartners.com\/?p=86128"},"modified":"2024-08-09T11:15:57","modified_gmt":"2024-08-09T11:15:57","slug":"russia-legalizes-cryptocurrency-for-international-trade","status":"publish","type":"post","link":"https:\/\/www.globalizationpartners.com\/2024\/08\/08\/russia-legalizes-cryptocurrency-for-international-trade\/","title":{"rendered":"Russia Legalizes Cryptocurrency for International Trade"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/www.globalizationpartners.com\/wp-content\/uploads\/2023\/01\/GPI-Curation-Corner-Emblem.png\" alt=\"GPI Curation Corner Emblem\" width=\"77\" height=\"108\" \/><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright wp-image-86129\" style=\"float: right; margin: 0.5em 0 0.5em 1em;\" src=\"https:\/\/www.globalizationpartners.com\/wp-content\/uploads\/2024\/08\/russia-cryptocurrency-legalization.jpg\" alt=\"Russia Cryptocurrency and International Trade\" width=\"403\" height=\"227\" srcset=\"https:\/\/www.globalizationpartners.com\/wp-content\/uploads\/2024\/08\/russia-cryptocurrency-legalization.jpg 650w, https:\/\/www.globalizationpartners.com\/wp-content\/uploads\/2024\/08\/russia-cryptocurrency-legalization-300x169.jpg 300w\" sizes=\"(max-width: 403px) 100vw, 403px\" \/>Global trade is set to take a new turn as Russian lawmakers recently announced their move to begin the use of Bitcoin as an international payment method from September 1<sup>st,<\/sup> 2024, this is coming after facing several Western sanctions and economic hurdles in the international market scene.<\/p>\n<p>The state Duma, which is the lower house of the Russian parliament signed the bill in addition to other bills that will regulate crypto mining on the 31<sup>st<\/sup> of July, 2024.<\/p>\n<p>Before this time, digital currencies used for payment were banned in Russia, and it significantly impacted Russia\u2019s International trade as the country no longer has access to the SWIFT network for international payments. \u00a0In line with the adoption of cryptocurrency, Russia is seeking ways to develop a digital version of its national currency the rubble which will be issued and managed by the Bank of Russia.<\/p>\n<p>Read more about Russia\u2019s adoption of the cryptocurrency in the article \u201c<a href=\"https:\/\/www.cointribune.com\/en\/bitcoin-finally-legal-in-russia-for-international-trade\/\">Bitcoin Finally Legal in Russia for International Trade<\/a>\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global trade is set to take a new turn as Russian lawmakers recently announced their move to begin the use of Bitcoin as an international payment method from September 1st, 2024, this is coming after facing several Western sanctions and economic hurdles in the international market scene. The state Duma, which is the lower house [&hellip;]<\/p>\n","protected":false},"author":53,"featured_media":86129,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1847],"tags":[1845,147,1159,1161,889],"_links":{"self":[{"href":"https:\/\/www.globalizationpartners.com\/wp-json\/wp\/v2\/posts\/86128"}],"collection":[{"href":"https:\/\/www.globalizationpartners.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.globalizationpartners.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.globalizationpartners.com\/wp-json\/wp\/v2\/users\/53"}],"replies":[{"embeddable":true,"href":"https:\/\/www.globalizationpartners.com\/wp-json\/wp\/v2\/comments?post=86128"}],"version-history":[{"count":5,"href":"https:\/\/www.globalizationpartners.com\/wp-json\/wp\/v2\/posts\/86128\/revisions"}],"predecessor-version":[{"id":86140,"href":"https:\/\/www.globalizationpartners.com\/wp-json\/wp\/v2\/posts\/86128\/revisions\/86140"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.globalizationpartners.com\/wp-json\/wp\/v2\/media\/86129"}],"wp:attachment":[{"href":"https:\/\/www.globalizationpartners.com\/wp-json\/wp\/v2\/media?parent=86128"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.globalizationpartners.com\/wp-json\/wp\/v2\/categories?post=86128"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.globalizationpartners.com\/wp-json\/wp\/v2\/tags?post=86128"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}