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In 2025 the use of cryptocurrencies in Russia will expand, says the official.
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There is a law in Russia that allows the use of BTC and cryptocurrencies for international payments.
Russian Finance Minister Anton Siluanov indicated that Russian companies have begun to use Bitcoin (BTC) and cryptocurrencies for international payments and foreign trade, relying on local legislation that allows the use of these assets to face sanctions. of the West.
In one interview On the Russia 24 television channel, Siluanov said that it is possible to use bitcoins that have been mined in Russia for foreign trade transactions, all within an experimental regime.
The Russian minister affirmed that international payments in digital currencies represent the future and assured that “they must be expanded and developed further.” The politician also highlighted that the expansion of this Cryptocurrency use case “will happen next year.”
Siluanov’s statement comes in a context in which bitcoin and cryptocurrencies are legal for international payments in Russia.
In July, the State Duma formally approved the bill enabling the Central Bank of Russia to create a platform that allows the use of cryptocurrencies as an alternative payment for sanctions, as reported by CriptoNoticias.
Russian Finance Minister Anton Siluanov. Source: TASS.
Shortly after, in November, Mining-sales-under-experimental-legal-regime” target=”_blank” rel=”noreferrer noopener”>introduced a bill in the State Duma to use BTC mined on Russian soil for international payments and other operations.
The president of Russia himself, Vladimir Putin, has shown open support for the use of bitcoin and cryptocurrencies. At the beginning of December, the president stated that no one can ban bitcoin because it is a new technology capable of resisting restrictions.
A way to evade sanctions
The use of cryptocurrencies in international payments means that these assets are used for foreign trade with other allied countries. For example, Russian companies They can convert their bitcoin into local currencies of the countries they trade withor vice versa, without the need to go through traditional financial channels, which are restricted by sanctions.
This allows Russia to maintain the flow of trade with nations such as China, India, and other strategic partners.using a payment network that is independent of Western-controlled financial systems.
The use of cryptocurrencies makes it easier to carry out financial transactions without the intervention of traditional banking intermediaries. This not only avoids restrictions imposed by sanctions, but also speeds up transfer times. and reduces costs associated with international operations.
Furthermore, the decentralization of cryptocurrencies provides an additional layer of anonymity and security for transactions, which is crucial in a tense geopolitical environment.
By 2025, Siluanov anticipates that the use of cryptocurrencies in Russia will expand significantly. This strategy not only seeks to circumvent current sanctions but also establish a foundation for a more robust and autonomous digital economyaccording to the authorities of that country.
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