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TRANSFER24 – Russian business began to use cryptocurrency in international settlements


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07.10.2022

A number of Russian companies already use crypto when interacting with unfriendly countries, although there is no official legislative basis for this yet.

In Russia continues to actively progresshistorywith the legalization of cryptocurrencies in cross-border payments, which, we recall, earlier< span style="-webkit-font-kerning: none; -webkit-text-stroke-color: #be1b27;">Supported key financial regulators “in face” of the Ministry of Finance and the Central Bank.

Like todayreport “Izvestia”, the relevant international settlements have already begun to be applied in practice: a number of Russian companies are already using crypto in interaction with foreign partners, although there is no official legislative basis for this yet (the authorities promised to approve it only by 2023).

First of all, we are talking about cooperation with “unfriendly countries” when exporting goods and importing components for domestic industries .

All this is happening against the backdrop of a decline in the number of transactions in euros and dollars to historical lows and helps to maintain the same pace of international settlements in the face of severe anti-Russian sanctions.

Recall that a few days earlier the largest Russian exchangesdeclaredreadiness to list cryptocurrency transactions on their platforms.

Source: https://prometheus. ru/rossijskij-biznes-nachal-ispolzovat-kriptovalyutu-v-mezhdunarodnyh-raschetah/