Crypto Daily – Despite Russian President Putin’s claims of robust trade in with China, recent reports highlight major payment issues. Many Chinese banks, especially smaller regional ones, have stopped processing payments from Russia due to U.S. sanctions. As a result, Russian businesses face difficulties in using Yuan and have turned to cryptocurrencies as an alternative. Russia legalized cross-border crypto payments, viewing them as a temporary solution while working on a central bank digital currency system with China and other BRICS nations.
Meanwhile, Dubai’s Court of First Instance has ruled that cryptocurrency can be legally recognized as a valid form of salary payment. This landmark decision supports the use of digital currencies under employment contracts, marking a significant step in the UAE’s legal system and further integrating cryptocurrency into the region’s digital economy.
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