Russia Parliament Approves Swift-Alternative but Moves Crypto Bill to April6.8

Two very contrasting events took place in Russia lower house parliament last week. In the first, the State Duma approved the international use of a Swift-like financial network to eliminate the risks of western sanctions. In the other, it postponed the second reading of the crypto bill draft law to April.

Anatoly Aksakov, the head of the Russian Banking Association and a finance committee with the Duma, said that the parliament had given the green light to table the bill for two more readings. After the bill passes the house, it would seek approval from Russia’s president Vladimir Putin to become law.

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