In a significant policy shift, Russian lawmakers have approved legislation allowing the use of cryptocurrencies for international payments, aimed at circumventing Western sanctions imposed due to the Ukraine conflict. The State Duma's head, Anatoly Aksakov, emphasized the historic nature of this decision, which reflects a growing interest in digital currencies as a means to ease economic pressures. The Central Bank of Russia is preparing for the first international crypto transactions by the end of 2024, following a change in its previously conservative stance against cryptocurrencies. Additionally, the government is considering a 20% tax on crypto mining to enhance its economic framework. President Putin has urged rapid regulation to capitalize on the global trend towards digital currencies, marking a departure from earlier proposals to ban cryptocurrency operations entirely. This legislative shift is expected to facilitate local crypto platforms and regulatory compliance, addressing concerns over financial stability and security.