Russia has been progressing towards using cryptocurrencies for international trade, primarily as a response to the stringent sanctions imposed by Western countries.

The Russian Ministry of Finance and the Central Bank have reached an agreement to legalize the use of cryptocurrencies for cross-border payments. This move aims to facilitate international transactions and bypass the traditional financial systems, which have been disrupted due to the sanctions related to the conflict in Ukraine

Russia Plans to Mine Bitcoin/Crypto for Cross-Border Deals, Says Central Bank

Russia considers allowing cryptocurrency for international payments as sanctions over Ukraine bite

Bank of Russia agrees to legalize crypto for cross-border payments: Report

The Bank of Russia, which has historically been opposed to the idea, has now conceded that under the current geopolitical circumstances, the use of cryptocurrencies for cross-border payments is necessary. However, it is important to note that this legalization is strictly for international trade purposes and does not extend to domestic transactions within Russia

Bank of Russia agrees to legalize crypto for cross-border payments: Report

The regulatory framework will still need to be developed, ensuring compliance with anti-money laundering and know-your-customer requirements

Bank of Russia agrees to legalize crypto for cross-border payments: Report