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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Bank of Russia Eyes Stablecoins for Cross-Border Transactions

August 27, 2024 Bitcoin.com

Alexey Guznov

The Bank of Russia is exploring the use of stablecoins in cross-border transactions, considering them as digital financial assets (DFAs) under existing regulations if they have a responsible entity. The initiative may involve a limited group of qualified investors and would require testing for regulatory feasibility. Bank of Russia Explores Stablecoin Use for Cross-Border Transactions […]

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Russia to Enact a Ban on Domestic Operations Of Cryptocurrency Exchanges

April 30, 2024 Bitcoin.com

Anatoly Aksakov

Russia is preparing to enact a ban on the organization of cryptocurrency exchanges in the country via the approval of a bill that regulates mining activities. According to statements made by Russian Duma Financial Market Chairman Anatoly Aksakov, digital financial assets like the digital ruble will be allowed to circulate. State Duma to Enact Ban […]

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Russian Duma Financial Market Chairman States Digital Financial Assets Might Replace Fiat for International Payments

April 19, 2024 Bitcoin.com

Anatoly Aksakov

Chairman of the Russian State Duma Committee on the Financial Market Anatoly Aksakov stated that digital financial assets, issued by institutions regulated by the central bank, could replace fiat channels for international settlements. Aksakov also acknowledged that while not being controlled for this use case, digital assets were already being used to settle international payments. […]

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Digital Assets for 1 Billion Rubles Issued in Russia in a Month

May 7, 2023 Bitcoin.com

bitcoin.com

Platforms authorized by the Russian government issued digital assets worth around a billion rubles in April, the local press reported. The spike in the volume has been attributed to Russian companies experimenting with new financial instruments amid limited access to traditional capital. Russia’s Digital Assets Market Livens Up as Capital Markets Dry Up for Russian […]

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Digital Assets Worth 2 Billion Rubles Issued in Russia in Less Than a Year

March 16, 2023 Bitcoin.com

bitcoin.com

Digital financial assets (DFAs) for a total exceeding $26 million have been issued in Russia in the past year. This new market has been developing since it was regulated in 2021 and the country’s monetary authority started licensing issuers in the following year. Volume of Digital Assets Increases in Russia as Investors Seek Alternatives to […]

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Bank of Russia Registers Another Digital Asset Issuer

March 13, 2023 Bitcoin.com

Bank of Russia

The Central Bank of Russia has added another entity to its register of authorized issuers of digital financial assets. The platform, called ‘Masterchain,’ becomes the fifth ‘information system operator’ in the country that can legally tokenize traditional assets and organize their trade. Number of Licensed Digital Asset Issuers in Russia Grows to Five The Central […]

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Bill Allows Russian Financial Platforms to Operate Blockchains, Issue Digital Assets

February 17, 2023 Bitcoin.com

bill

A draft law filed in the Russian parliament permits operators of platforms providing financial services to also run blockchain platforms. The legislation will allow them to combine their regular activities in the traditional financial market with issuing digital assets. New Law Opens Door to Blockchain Space for Russian Financial Service Providers The State Duma, the […]

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Digital Gold Traded for Digital Rubles by Russia’s Rosbank

February 9, 2023 Bitcoin.com

Atomyze

Rosbank has brokered Russia’s first deal involving the exchange of tokenized gold with the digital version of the Russian national fiat currency, the ruble. The successful transaction demonstrates the growing interest in digital financial assets and the need for digital ruble payments, the banking institution stated. Rosbank and Atomyze Exchange Gold and Rubles in Digital […]

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Russia’s Largest Private Bank Launches Digital Asset Platform

February 5, 2023 Bitcoin.com

Alfa-Bank

Alfa-Bank, one of the major Russian banking institutions, has established its own platform for digital financial assets. The launch became possible after Russia’s monetary authority added Alfa-Bank to its register of digital asset issuers this week. Privately-Owned Alfa-Bank Sets Up Digital Asset Platform With Central Bank’s Permission Russia’s Alfa-Bank has launched ‘A-Token,’ a platform allowing […]

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