Russian businesses start to conduct cross-border transactions with cryptocurrencies
Such transactions are carried out in the absence of regulation by the state
05.10.2022 - 08:15
343
2 min
0
What’s new? Russian companies have started conducting the first cross-border transactions with digital currency in a limited volume, despite the lack of regulation in this area. Izvestia reported, citing Ivan Chebeskov, Director of the Financial Policy Department of the Ministry of Finance. The Chamber of Commerce and Industry (CCI) stressed that cryptocurrencies are mainly used in settlements with unfriendly countries in exports, as well as imports of components for the manufacturing sector.
What is known about the transactions? The use of cryptocurrencies allows the circumvention of restrictions on payments in dollars and euros. According to Vladimir Gamza, Chairman of the Council of the CCI on Financial, Industrial and Investment Policy, the volume of transactions with digital assets could grow several times against the backdrop of sanctions. The official also stressed that any cryptocurrencies with a clear source of issue, control and collateral system can be legally used in the Russian economy for transactions with foreign counterparties. In this, representatives of the CCI and the Ministry of Finance did not name specific companies already conducting international transactions with cryptocurrency.
Earlier, it became known that the Ministry of Finance and the Bank of Russia will allow international settlements in cryptocurrencies for all industries. Ivan Chebeskov noted that it is necessary to use all possible alternatives to the US dollar and the SWIFT interbank messaging system, including cryptocurrencies, stablecoins, and digital financial assets (DFAs). According to representatives of the Federal Financial Monitoring Service, the relevant draft law will be completed by the end of 2022.
Useful material?
Telegram 
Twitter Market
According to the founder of TRON, the leading US crypto exchange asked for several hundred million dollars for the listing of TRX
Nov 4, 2024
Incidents
The company conducted fictitious trading for six years to inflate the trading volume of tokens of several companies, receiving payment for these services
Nov 1, 2024
Market
1,5 million addresses have already left applications
Oct 31, 2024
Business
The company began investing in bitcoin in 2020, and since then, the value of its securities has risen by 1700%
Oct 30, 2024
Mining
The Deputy Energy Minister explained that in deficit regions, it is impossible to allocate large capacities for industry enterprises until 2030
Oct 30, 2024
Market
Customers will also be able to withdraw funds to bank accounts using cards
Oct 30, 2024
Cryptocurrency rates
-
Bitcoin
$71 225
BTC
+5.6%
-
Ethereum
$2 490.3
ETH
+4.67%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$0.521096
XRP
+3.95%
-
Dogecoin
$0.182284
DOGE
+13.09%
-
Cardano
$0.34165
ADA
+4.69%
-
Bitcoin Cash
$350.42
BCH
+7.1%
-
Polkadot
$3.95
DOT
+5.24%
-
Litecoin
$67.16
LTC
+2.47%
-
Stellar XLM
$0.094662
XLM
+4.29%