Russia considers risks of using cryptocurrency for cross-border payments.

The Russian money laundering watchdog has suggested that Russia should develop cryptocurrency payment infrastructure to expedite international trade while carefully considering the associated risks. The use of bitcoin transactions in foreign payments may be permitted under a new law, which is set to be reviewed by parliament. The head of the watchdog emphasized the need for businesses to enter the international market, particularly in cases involving sanctions. However, Russia currently prohibits the use of cryptocurrencies in payments, and it is unlikely that the new law will change this. President Vladimir Putin praised the experimental debut of a central bank-backed digital currency and highlighted the potential risks posed by cryptocurrency mining farms in certain regions. [Extracted from the article]