Russia will legalize bitcoin (BTC), only for international trade

The Central Bank of Russia recently announced that it plans to test international settlements with bitcoin and cryptocurrencies. A decision that the chairman of the Duma finance committee confirmed yesterday.

Russia uses cryptos for its international exchanges

Russia to Legalize International #Bitcoin & Crypto Trade in January – Head of Congress Finance Committee »

According to Bitcoin MagazineAnatoly Aksakov, chairman of the Duma’s finance committee, said that Russia intends to legalize bitcoin and other cryptocurrencies for international trade by January 2023. No question for local elected officials to align with the India in its lame stances on cryptos.

Deprived of SWIFT since its “special operation” in Ukraine, the Russian bear is forced to find an alternative to this messaging network for banks. Fortunately, Vladimir Putin has accelerated the development of the SPFS payment system since the Euromaidan in kyiv in 2014. And to brave the hybrid attacks of the United States, where elected officials can vote for the ban of cryptocurrencies, the Duma is opening up to bitcoins and altcoins.

In January, we want to legalize cryptocurrencies to ensure foreign trade activities “, specifies Mr. Aksakov in the report published by Mug.

No bitcoin inside the country

The circulation of cryptocurrencies as a means of payment on the territory of Russia will be prohibited, and liability will be prescribed in this regard. But to pay for foreign trade transactions, we always assume the possibility of using cryptocurrencies, for example, for parallel imports added the Chairman of the Finance Committee of the Duma.

To say that the central bank of Russia proposed to ban cryptocurrencies in May. However, at the time, Vladimir Putin and the Minister of Finance opposed their veto to this initiative. The latter preferred regulation instead of the “ban” of bitcoin.

Since then, things have evolved in the homeland of communism. Didn’t it announce the sale of its natural gas for bitcoins after US sanctions packages?

Russia also plans to launch its own crypto exchange, a colleague from reported a few weeks ago. Also, we have reported that the Russian Central Bank seems more and more open to these assets. Is that why she turns a blind eye to the proliferation of ATM Bitcion in the country.

For now, Russians will have to settle for using bitcoin and cryptocurrencies for cross-border payments. Those who hope for legalization of these assets within the country will still have to wait. Because the Central Bank of Russia and the Kremlin are the type to suddenly change their minds on the subject.

Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of newsletter daily and weekly so you don’t miss any of the essential!

Similar Posts