The Russian Central Bank seek the Stock exchange to trade digital currency

[Flow-er]

The Central Bank in Russia actually seek that cryptocurrency should be traded on the floor of the stock exchange of the country.The war in Russia has actually made this country to venture into cryptocurrency proper. The war has actually made them to know the advantages that is embedded in cryptocurrency adoption. This is very good because when all the financial institutions of world or the European financial institution turned their back on Russia by laying sanctions on their financial system, they were able to get funds from outside source via the cryptocurrency and that is why they knew that the cryptocurrency is worth adopting.

Initially, Russia planned to ban cryptocurrency in the country before the war but during the war they noticed that this particular Digital currency would be very beneficial and it was instrumental to receiving funds from external sources.
That was the only gimmicks or the only way out of the financial incapability that they had during the war. They were able to boycott the financial sanctions by European Union using the cryptocurrency. There are quite a number of countries that have adopted cryptocurrency when they saw the advantages in it. The Central African Republic recently announced that it has passed into law the use of Bitcoin as a legal tender.

 

[Lens1000]

This is to tell you how much Russian would feel the impact of cryptocurrency in their economy because the digital currency has been of great help to them during the war and it an advantages of adopting cryptocurrency unlike when they have the plans to ban it in their country. This is basically not the right thing to do because cryptocurrency would have a lot of positive impact on the economy of any country that adopted. The Russian government now know the importance of adopting cryptocurrency most especially the bitcoin because they receive funds from external sources during the war with bitcoin because most of the financial sources that they had outside the country have been banned by the European Union. So, it becomes very difficult for Russia to receive funds through the traditional system except through cryptocurrency and it has been a great help to them. It doesn't really affect Russia alone but the Ukrainian also have his share of the positive impact of cryptocurrency in the time of war and it is very obvious that both the countries enjoyed cryptocurrency in a great deal because they were able to receive funds through this means so the Russia adding cryptocurrency trading in the stock exchange market is a very good move.

 

[uptrendfinancialsignal]

I am not very surprised that Russia is supporting cryptocurrency right now because they are one of those that kicked against the development of cryptocurrency in their country because they deemes it fit that it is not good to use by any of their citizens but because the war erupted, they were able to use cryptocurrency to fund the border wall and as a result they have made a U-turn and they are now accepting cryptocurrency for cross-border transactions and so many other things . You can imagine Russia making law to use cryptocurrency on the floor of the stock exchange. it is indeed an amazing move and it is very encouraging as well.

 

[Lens1000]

The Russian government has suddenly become repentant because initially, they never believed in Bitcoin and they kicked against bitcoin usage but because they have found favour in Bitcoin, they have started using it and it has also mandated the stock exchange to accept Bitcoin transaction . This is really a great news for the cryptocurrency space because it is going to make a significant impact in the crypto-currency marke,t following the fact that Russia is a very big country and accepting cryptocurrency in that country alone would be a very good move and it will have impact on cryptocurrency community.