Russia is free to use Bitcoin in foreign trade, says finance minister

December 25, 2024 Coin Telegraph

Russia has all legal tools to use digital financial assets and Bitcoin in foreign trade, Finance Minister Anton Siluanov said.

Russia has been actively experimenting with digital financial assets (DFAs) in foreign trade in line with the country’s legislation, according to a senior government official.

Russian Finance Minister Anton Siluanov discussed US dollar alternatives for international trade in an interview on the state-owned news channel Russia-24 on Dec. 25.

Siluanov said the Russian government has passed legislation authorizing foreign trades in DFAs and Bitcoin (BTC).

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BRICS nations are increasingly using national currencies, with 65% of transactions now conducted in local currencies, according to a Russian finance official. The U.S. dollar and euro account for less than 30% of payments among member states, signaling a strategic shift to reduce dependency on Western financial systems. The trend has accelerated due to sanctions […]

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