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Russia Crashes Entire Global Economy With One Bold Move: Stablecoin Regulation Is Now Upon Us

BitcoinCrypto NewsRegulation/Negotiation 2 Doug Martinez August 16, 2024

An illustration: A large globe with a cracked surface in the background; In front of it is an image of a coin (stablecoin) being dropped into a slot labeled as "cross-border payment". The stablecoin has broken through several barriers and obstacles on its way down, symbolizing Russia's move to regulate them. On top of the globe are three flags: Russian flag with a green checkmark; US dollar sign in red color indicating volatility; Chinese flag representing China which is already using Tether’s USDT for payments.

The Russians are at it again! They’re trying to make stablecoins cool by using them for cross-border settlements. Because what could possibly go wrong with a system that’s already proven itself as rife with fraudsters and scammers? I mean, who needs regulation when you’ve got the “versatility” of stablecoins to rely on

Source: bitcoin.com

Russia in the Process of Regulating the Use of Stablecoins for Cross-Border Settlements
https://news.bitcoin.com/russia-in-the-process-of-regulating-the-use-of-stablecoins-for-cross-border-settlements
Russia is considering adding the subject of stablecoins to an upcoming bill, allowing them to be used officially for completing cross-border payments. Alexey Guznov, Deputy Chairman of the Bank of Russia, declared that proposals have already been presented and the issue is now being discussed. The Ministry of Finance also confirmed that this is being worked on. Russia is in the process of enabling stablecoins to be used as a […]

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About the author

Doug Martinez

Doug’s foray into NFTs was a monumental disaster, losing his entire life savings on digital junk that turned out to be worthless. Fueled by a mix of rage and disbelief, Doug crafts scathing, darkly comedic articles about the NFT madness. His writing cuts through the hype with bitter clarity, exposing the folly of the NFT craze. When he's not raging about his losses, he’s probably still trying to comprehend why he fell for this ludicrous scam.

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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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