Report: Russian digital currency market continues to grow even without proper regulation

According to a new report, the digital currency market in Russia continues to grow despite the lack of clear government regulations, Coingeek warns. Peer-to-peer digital currency trading has grown over the years, according to the report, as Russians find another way to finance a business. Paxful Russia's economy has grown 350% year-on-year since May of last year, and Paxful founder Ray Youssef believes the new rules will boost growth in the Russian currency market. First, on August 1, Russian President Vladimir Putin signed a bill allowing the use of digital financial instruments (CFAs) for businesses from 2021, but banning the use of cryptocurrencies as a means of payment. .