Russia promotes foreign trade payments using cryptocurrencies

VTV.vn - Russia agreed to allow foreign trade payments using cryptocurrencies, aiming to legalize and closely monitor this market to promote international transactions.

The Ministry of Finance of the Russian Federation and the Central Bank of Russia have agreed on the use of cryptocurrencies in foreign trade, subject to closer supervision by the Central Bank, Finance Minister Anton Siluanov announced after the strategic meeting "Improving Economic Efficiency and Ensuring a Level Playing Field for Business" on October 21.

According to the Finance Minister, the Russian authorities see cryptocurrencies and payments in cryptocurrencies as a major direction, as they are used for import payments and foreign exchange transactions. Therefore, the Finance Ministry has agreed with the Central Bank on the need to streamline and legalize this market, with closer supervision by the Central Bank.

Previously, the analytics firm Chainalysis stated that Russia had surpassed all European countries in terms of cryptocurrency inflows from July 2024 to June 2025. Notably, instruments such as the stablecoin A7A5 contributed to the growth of cryptocurrency sales among Russians and other countries.

Earlier, Deputy Governor of the Bank of Russia Vladimir Chistyukhin stated that the Central Bank of Russia hopes to adopt a law on cryptocurrency investment by 2026. According to him, the licensing process for companies will begin simultaneously with the adoption of the law. The main goal is to create a legal framework for investing in cryptocurrencies using Russian infrastructure, available only to highly qualified investors.

On August 8, 2024, Russian President Vladimir Putin signed a law allowing cryptocurrency payments abroad. Under the experimental legal regime, individual provisions of the law can be amended or excluded. On March 12 of this year, the Central Bank submitted proposals to the government to discuss regulating cryptocurrency investments. The regulator proposed allowing a limited number of Russian investors to buy and sell cryptocurrencies.

If the proposal of the Ministry of Finance and the Central Bank is implemented, Russia could become one of the countries actively introducing cryptocurrencies into the official economy , opening up new opportunities for domestic businesses and foreign partners.

Source: https://vtv.vn/nga-thuc-day-thanh-toan-ngoai-thuong-bang-tien-dien-tu-100251022081144142.htm