Russia Is Creating a Legal System For Crypto To Avoid Western Sanctions
Russia is moving to integrate crypto into its international commerce. The government announced today that it will legalize its use for foreign trade settlements.
This decision is a strategic response to Western sanctions. By establishing a legal system for cross-border crypto payments, Russia can bypass restrictions on traditional banking channels.
Russia’s Ministry of Finance and Central Bank have formally agreed to legalize cryptocurrency to settle international trade deals.
This decision formalizes the experimental legal regime (ELR) launched in September, which initially permitted the piloting of crypto for cross-border transactions.
The move is widely viewed as a…
