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Russia Considers Partially Replacing Dollar Reserves With Digital Assets in Future

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Amid ongoing sanctions, the government of Russia has been working to limit the country’s dependence on the U.S. dollar. The Ministry of Foreign Affairs now says it’s possible to partially replace the greenback in currency reserves and trade settlements with other currencies and even digital assets in the future. Foreign Ministry Official Sees Russia Acquiring … Read more

Facebook’s Novi Launches Pilot Program in Guatemala and US Using Pax Dollar

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Novi, Facebook’s digital wallet, will launch a pilot program to test the functionality of the service in two countries: Guatemala and the U.S. The test will allow Novi to test all of its main functions and to evaluate what things need to be improved before launch. Novi will use pax dollars as the main currency … Read more

Putin: Still Early but Crypto Can Be Used for Oil Trade Settlements, Store of Value

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Accusing the U.S. of undermining the dollar through money printing and sanctions policy, President Vladimir Putin has admitted that cryptocurrency can be utilized for settlements in the future, although it’s too early to do that in oil trade. While noting that it lacks backing, the Russian leader assumed crypto could be used to store value … Read more

Moscow Not Planning to Ban Russians From Buying Crypto Abroad

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Russia is not going to follow China’s course and does not plan to ban its citizens from purchasing cryptocurrency on foreign exchanges, a high-ranking government official has indicated. Russians will not be able to pay with digital coins in their own country but are free to use crypto wallets beyond its borders. Russians Can Purchase … Read more