The Russian Ministry of Finance and the Central Bank have agreed to legalize cryptocurrency for international trade payments

BlockBeats News, October 22nd, according to the Russian media The Bell, the Russian Ministry of Finance and the Central Bank of the Russian Federation have agreed to legalize the use of cryptocurrency for foreign trade payments. Finance Minister Anton Siluanov announced this news on October 21st.

Siluanov stated, "We believe that this area should be legalized and should be subject to legislative regulation. Through cooperation with the Russian financial regulator and regulatory authorities, we will be able to ensure and restore order in this industry." He emphasized that using cryptocurrency in settlement is an important area of work because cryptocurrency can not only be used for payments but can also be extracted from the country.

Previously, Evgeny Masharov, head of the Foreign Exchange Dealers Association, had stated that 2026 could be the starting point for balancing the regulation of the Russian cryptocurrency market. According to his estimates, Russian citizens and businesses have over 2.5 trillion rubles in digital assets, and the use of cryptocurrency in foreign trade settlements is increasing, reducing reliance on unfriendly foreign currencies.