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Russian Finance Ministry Says ‘Why Not?’ to Crypto in International Payments

The Russian Finance Minister has confirmed that his department wants to green-light the use of crypto as a payment tool in international trade. And he says that countries that “want to do business” with Moscow should be allowed to pay in crypto if it is “convenient” for them.

The comments, which were reported by Tass, came from the ministry chief Anton Siluanov. The minister was speaking to the TV channel Rossiya-24 ahead of the New Year.

Siluanov stated that the ministry did not want to “exclude the possibility of” authorizing “settlements in cryptocurrency with trading partners from other countries.” But, he stated, the “process” should “be comfortable for all parties.”

The Central Bank – which opposes the use of crypto in Russia – would likely prefer a total ban. But there are indications that the bank will likely not stand in the way of companies trying to conduct trade deals in crypto. Indeed, the bank has already signaled that it is prepared to create a regulated “testbed” for domestic firms who want to buy or sell goods using crypto.

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