Russian Finance Minister Anton Siluanov stated in an interview on December 25 that Russia has a complete legal framework allowing the use of digital financial assets (DFAs) and Bitcoin in international trade, revealing that relevant transactions have already begun and will further expand in the future.
Russia is laying out digital financial assets, opening a new model for international trade.
Russian President Putin signed the cryptocurrency mining bill in August and October of this year, subsequently passing the digital financial assets bill, cryptocurrency taxation bill, etc., and continues to explore the application of digital financial assets (DFAs) in international trade. Siluanov stated that in September of this year, Russia began to implement the experimental bill of DFAs, allowing the use of DFAs under specific conditions. He further stated that Russia has already used these tools for payments on imported goods, emphasizing that this is an innovation in the global settlement system and a future trend.
Experimental bill of Russia's FDAs. Mining Bitcoin within Russia can also participate in international trade.
Due to international sanctions and other factors, Russia is restricted in using the US dollar. Siluanov stated that Russia hopes to reduce its dependence on the dollar as a settlement currency in international trade through the use of Bitcoin.
He added that Russia officially passed regulations related to Bitcoin mining at the beginning of this year, allowing mining within Russia, and that Russia can use locally mined Bitcoin for payments, with relevant transactions already taking place. Siluanov further stated that the promotion and expansion of application scope will continue in 2025.
(Russia bans Bitcoin mining! Comprehensive ban on mining for 6 years in 10 regions, with some areas limiting mining during winter.)
Remain cautious about cryptocurrency, please choose stable investment methods.
Although Russia is actively adopting DFAs and Bitcoin as tools for international trade, Siluanov remains cautious about investing in cryptocurrency. Previously, he stated in an educational promotion event: 'It is not advisable to view cryptocurrency as an investment tool.' At that time, the price of Bitcoin had already surpassed 76K and reached the historic milestone of 100K in the following month.
Siluanov also reminded during the interview that although cryptocurrency seems like an overnight wealth opportunity, its volatility and investment risks cannot be ignored, emphasizing the need to choose more stable investment methods.
(The Russian government approved a cryptocurrency taxation bill, exempting value-added tax and integrating trading income into securities income.)
This article announces that Russia can use Bitcoin and DFAs for international trade! Finance Minister: This is the future trend, first appeared in Chain News ABMedia.
