Is Russia ready to consider external settlements in cryptocurrency?

After the postponement of the adoption of the law on mining, active discussions continue regarding the document.

According to Finance Minister Anton Siluanov, in the long term cryptocurrencies are allowed for transactions in foreign trade:

Since we do not have payments in USD and EUR, cryptocurrency could well be a source of settlements with external counterparties that are willing to cooperate.

The Ministry of Finance said that if a consensus is reached, this should be implemented in a comfortable mode for both parties. Most likely, the testing of such a possibility will take place based on an experimental legal regime. Also, the Ministry of Finance indicated the importance of working out the mechanism of fast exchange of cryptocurrency for fiat because of the high volatility.

In addition, experts are discussing the development of a specialized trading platform, where operations can be carried out under state control.

As for the draft law on the regulation of mining, the document is pending its first reading in the State Duma.