Russia China PBOC BankofRussia Russia to allow crypto for cross-border payments while China expands smart contracts on its e-CNY
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According to Alexi Moiseev, the country’s deputy finance minister, many Russians rely on foreign platforms to open a crypto wallet, and that is something that needs to be handled within the country using trusted platforms. In late 2021, Russian President Vladimir Putin suggested that it was “still premature” to use crypto to facilitate the trading of energy resources like oil and gas.
In a speech given this past Friday by Mu Changchun, director-general of the PBOC’s digital currency institute, the official detailed that smart contracts involving the digital yuan, or e-CNY, have been applied to several areas such as government subsidies, retail marketing and pre-paid fund management.
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