Russia's cryptocurrency transactions in International Trade have approached 1 trillion rubles.
By 2025, the volume of cryptocurrency transfers between the Russian Federation and international trading partners is expected to reach nearly 1 trillion rubles (over $12.7 billion). This information was revealed by Anatoly Aksakov, chairman of the Financial Markets Committee at the State Duma.
Cryptocurrency facilitates cross-border payments for Russia.
The Russian government has considered using cryptocurrency as an international means to avoid sanctions from the West. This discussion arose after President Vladimir Putin gave the green light for cross-border transactions using crypto to ease financial restrictions.
Additionally, Russia's special regulations allow businesses to buy and use digital currency for payments to foreign partners while accepting crypto for exports. This is a step forward in the strategy of using cryptocurrency to maintain trade operations in a restrictive legal environment.
The benefits of cryptocurrency in international trade.
This system helps Russia maintain cross-border transactions with less disruption from traditional financial barriers. Digital currencies, including Bitcoin, are only allowed for international transactions, not for domestic use.
This also helps businesses trade in the domestic market through crypto exchanges, but when it comes to international payments, crypto becomes a reliable bridge for import and export transactions.
Not ready to legalize domestic payments with crypto.
Russian financial authorities, especially the Central Bank, have yet to approve the legalization of cryptocurrency domestically. The government only allows the use of crypto within the framework of experimental research, under strict state supervision.
The use of cryptocurrency outside this framework – such as payments within Russia – is still prohibited by law to prevent unauthorized “Altcoins”.
In June, Forbes Russia reported that the government plans to penalize those who use crypto for domestic payments with confiscation and fines, which could reach up to 1 million rubles for businesses and 200,000 rubles for individuals.
Crypto control policy and investment limitation strategy.
The Bank of Russia has recommended commercial banks to strengthen control over transactions related to cryptocurrency to mitigate fraud risks. At the same time, only qualified investors are allowed to participate in crypto derivative products.
Russians have tripled their investment in crypto over the past three years. However, regulators want to tighten oversight, allowing only highly qualified investors to invest in digital assets to mitigate risks and protect consumers.
Source: https://tintucbitcoin.com/nga-du-kien-chi-1-nghin-ty-rup-cho-tien-dien-tu-2025/
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