According to a senior government official, Russia is actively experimenting with digital financial assets (DFA) in foreign trade in line with the country's laws.
Russian Minister of Finance Anton Siluanov discussed In an interview with state news channel Russia 24 on December 25, he spoke about alternatives to the US dollar in international trade.
Siluanov said the Russian government has passed a bill allowing foreign transactions of DFA and Bitcoin (BTC).
According to the minister, such foreign trade deals are already taking place and Russia plans to further develop and expand them.
“You can use mined Bitcoins”
Siluanov said in an interview that in the current situation, introducing the DFA in foreign trade as a replacement for the US dollar is “very understandable” as it allows the use of modern infrastructure.
This is an innovation in the global payment system, he said, adding: “It's the future.”
Russian Finance Minister Anton Siluanov. Source: RIA News
Siluanov said Russia will be free to use digital financial assets, including Bitcoin, in foreign trade in line with an experimental legal regime that took effect in September 2024.
He said:
“We can pay for the delivery of goods with digital financial assets. It is also possible to use Bitcoin, which we mine here in the Russian Federation, within the experimental regime.”
Related: Russia bans cryptocurrency mining in 10 regions for 6 years
The finance minister noted that Russia legalized mining earlier this year. “That's why deals like this are happening. We're saying we need to develop them and expand them, and we're confident that next year that will become a reality,” he added. Ta.
Siluanov warns against investing in cryptocurrencies due to Bitcoin's ATH
Siluanov’s latest comments on DFA and Bitcoin come weeks after the finance minister called on people to refrain from investing in cryptocurrencies in November.
“Some people think of cryptocurrencies as a source of quick money. We do not recommend them as an investment vehicle,” the minister said. said I spoke at a local educational event on November 6th.
Bitcoin (BTC) price chart for the past 3 months. sauce: CoinGecko
“Absolutely not. There are many other ways to invest and make money today,” Siluanov said.
At the time of Siluanov's warning, Bitcoin had hit an all-time high of more than $76,000 and was on its way to a historic milestone of surpassing $100,000 in just about 30 days.
As previously reported, Russia officially recognized Bitcoin as a digital financial asset in 2021 as part of the “On Digital Financial Assets” bill. While the law gave DFA legal status, it prohibited the use of Bitcoin as payment within the country.
magazine: 13 Christmas Gifts Bitcoin and Crypto Enthusiasts Will Love
