1. Focus Group for Crypto Payments in Foreign Trade
2. Russia Seeks Paths for Stabilizing International Trade
3. Crypto Mining in Russia and the Global Digital Assets Market Situation

Russia has established an experimental legal regime to legalize crypto payments for foreign trade, aiming to find an alternative to the dollar amid Western sanctions.

Focus Group for Crypto Payments in Foreign Trade

Russia has created a focus group to experiment with the legalization of crypto payments in foreign trade. This includes representatives from the Chamber of Commerce and Industry of Russia (CCI) and the Association of Developers and Manufacturers of Electronics (ARPE) along with select banks. The group is focused on addressing payment challenges for importers from countries like China, particularly for dual-use goods that have both civilian and military applications.

Russia Seeks Paths for Stabilizing International Trade

Russia is exploring ways to stabilize its international trade using cryptocurrencies for cross-border payments. The Central Bank of Russia (CBR) is fast-tracking legislation for electronic money, along with launching digital ruble pilot projects. Recently, cryptocurrency mining and payments were legalized as Russian companies face challenges in making cross-border payments in yuan. The CBR hopes digital financial assets (DFA) will reduce dependency on traditional currencies and intermediaries.

Crypto Mining in Russia and the Global Digital Assets Market Situation

The Komi region may become Russia's new crypto mining hub. Governor Vladimir Uyba announced plans to create 15 new data centers to boost mining capabilities, with initial installations in Mikun and Sindor. This initiative has gained support from investors following Gazprom's announcement of a new subsidiary dedicated to crypto mining. On a global scale, the digital assets market is under pressure, with major cryptocurrencies like Bitcoin (BTC) and Ether (ETH) showing red indexes. The cumulative crypto market cap slightly declined to $2.04 trillion over the last day.

The creation of the focus group and Russia's recent steps in cryptocurrency regulation and mining reflect the country's efforts to find alternative paths under the pressure of sanctions and limitations related to traditional payment systems.