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 cryptocurrency payments as a major direction, as they are used for import payments and foreign exchange transactions. Therefore, the Ministry of Finance has agreed with the Central Bank on the need to rationalize and legalize this market, with stricter Central Bank oversight.

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

Earlier, Deputy Governor of the Central Bank of Russia Vladimir Chistyukhin stated that the Russian central bank hopes to pass legislation on cryptocurrency investment by 2026. According to him, the licensing process for companies will begin simultaneously with the passage of the law. The main goal is to create a legal framework for cryptocurrency investment using Russian infrastructure, exclusively for highly qualified investors.

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

If the proposals from the Ministry of Finance and the Central Bank are implemented, Russia could become one of the countries actively introducing cryptocurrencies into the formal 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