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BREAKING: Bank of Russia Abandons Sanity, Considers Using Stablecoins Because Who Needs Actual Banking Anyway?

Crypto NewsRegulation/Negotiation 3 Sam Rogers August 30, 2024

A comical illustration depicting a bank vault door swinging open, revealing a chaotic scene inside where coins are flying out and stablecoins are being juggled by a harried-looking banker amidst a backdrop of digital screens displaying cryptic codes.

The Bank of Russia has finally caught up and realized that cryptocurrency is just a bunch of nonsense created by idiots who want to get rich quick. Now they’re exploring stablecoins, which are basically digital IOUs with some semblance of value attached to them. Because what’s more exciting than using numbers on a computer for cross-border transactions? I mean, it’s not like we have proper banking systems that can handle international payments without all the drama and fees associated with cryptocurrency.

Source: bitcoin.com

Bank of Russia Eyes Stablecoins for Cross-Border Transactions
https://news.bitcoin.com/bank-of-russia-eyes-stablecoins-for-cross-border-transactions
The Bank of Russia is exploring the use of stablecoins in cross-border transactions, considering them as digital financial assets (DFAs) under existing regulations if they have a responsible entity. The initiative may involve a limited group of qualified investors and would require testing for regulatory feasibility. The Bank of Russia, the country’s central bank, is considering the use of stablecoins for cross-border transactions, according to Alexey Guznov, State Secretary and […]

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About the author

Sam Rogers

Sam’s plunge into the crypto world turned into a brutal farce when he fell for an absurdly obvious scam promising to double his investment. After being fleeced by a slick email con, Sam is left fuming and broke. His writing drips with anger and dark humor as he exposes the outrageous scams and ludicrous promises of the crypto world. His motto: “I didn’t just fall for a scam—I was sucker-punched by an entire industry. If you think crypto is a goldmine, just wait until you see how deep it can dig your grave.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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