Bitcoin and crypto: Russia legalizes their use in international trade

Bitcoin and cryptocurrencies serving international trade. It is a fact that Russia is not one of the countries most inclined to authorize the use of cryptocurrencies. We have known this for several weeks: 10 regions of the country will have to ban cryptocurrency mining.

However, she seems to have understood the interest of the latter in the context of international trade. Thus, the Minister of Finance declared that Russia was free to use Bitcoin and cryptocurrencies in international trade.

Russia allows Bitcoin and cryptocurrencies in international trade

On December 25, the Russian Finance Minister, Anton Siluanovwas a guest on the state channel Russia-24. During this interview, he addressed the subject of alternatives to the dollar for international trade.

Thus, the minister revealed that Russia had passed legislation allowing international trade using digital financial assets (DFA) and Bitcoin.

According to the minister, these transactions are already in use, and Russia plans to develop and expand them in the future.

Russia transforms its crypto trials

In particular, he emphasized that the use of DFA and Bitcoin in international trade was a comprehensible alternative to the US dollar and that it enabled the use of modern infrastructure.

“We can pay for the delivery of goods with digital financial assets. It is also possible to use Bitcoin, which we mined here in the Russian Federation, under the experimental regime. »

Anton Siluanov

Indeed, at the beginning of the year, Russia legalized cryptocurrency mining. In addition, the country has introduced a licensing system for cryptocurrency miners.

However, Russia remains wary of cryptocurrencies. Thus, last November, the Minister of Finance warned against investments in cryptocurrencies. A warning which probably did not have the desired effect, because Bitcoin has since exceeded the symbolic mark of $100,000.