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<ul class="wp-block-list news-points">
 <li>Russia launches two crypto exchanges in St. Petersburg and Moscow.</li>
 <li>The exchanges focus on supporting foreign economic activity (FEA).</li>
 <li>The country has taken the initiative to expand its crypto market.</li>
</ul>
Russia is gearing up to launch two crypto exchanges aimed at facilitating foreign economic activity (FEA). <a href="https://www.kommersant.ru/doc/6907058" target="_blank" rel="noopener noreferrer nofollow">Reports indicate</a> these exchanges will be established in St. Petersburg and Moscow under a special legal framework. The first exchange will leverage the St. Petersburg Currency Exchange (SPCE), but it is uncertain if the second will operate under the Moscow Exchange.
The country’s plan to launch the platforms are acknowledged by the crypto community as an optimistic development. While the crypto community sees this as a positive step, industry experts worry about potential limitations and risks, particularly concerning international sanctions.
Sources suggest this move connects to Russia’s plans to create stablecoins for the yuan and the BRICS currency basket, aiming to strengthen economic ties among BRICS nations (Brazil, Russia, India, China, and South Africa).
Alexey Guznov, Deputy Chairman of the Bank of Russia previously<a href="https://iz.ru/1721782/2024-07-03/vlasti-rf-khotiat-razreshit-ispolzovat-steiblkoiny-dlia-mezhdunarodnykh-raschetov" target="_blank" rel="noopener noreferrer nofollow"> stated</a> that the country h…
The post <a href="https://coinedition.com/russia-to-support-fea-launches-two-crypto-exchanges-report/" rel="noopener noreferrer nofollow">Russia To Support FEA, Launches Two Crypto Exchanges: Report</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Russia To Support FEA, Launches Two Crypto Exchanges: Report

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