Russia pushes for cross-border payments in crypto

Finance Minister Anton Siluanov said Russia now views crypto-based payments as a key strategic direction. The Ministry of Finance has reached an agreement with the Central Bank on the need to legalize the market, with a comprehensive crypto investment bill expected to pass by 2026.

Russian oil companies have already been using crypto for international transactions since December last year, after the government amended laws to allow cross-border payments in digital assets as a way to bypass Western sanctions.

Recent data from Chainalysis shows Russia has now surpassed all European nations in crypto inflows, reaching $376.3 billion between July 2024 and June 2025.
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