Bitcoin globalization: Russia to expand crypto settlements next year

Finance Minister Anton Siluanov announced that Bitcoin transactions in Russia’s foreign trade could double by the end of next year. Current estimates show they account for about 1–2%, but in 12 months may reach 4–5%. Achieving this increase requires solving technical issues related to storing large amounts of cryptocurrency and ensuring swift conversions.

The central bank remains cautious but may simplify accounting procedures for companies that choose this route. If the scenario is favorable, annual operations could exceed $3 bln. Government officials believe this will encourage the growth of digital services and attract blockchain-focused investment.

Analysts emphasize the need for reliable exchange infrastructure, enabling seamless BTC-to-fiat swaps. Risk mitigation measures addressing volatility, such as insurance products, hedging, and flexible rates, will also be crucial.