Russian PM takes cue from Iran’s crypto payment permit for imports
The adoption of digital assets provides a good opportunity to ensure uninterrupted payments for imports and exports, Russia's prime minister said. Russia could soon be taking a cue from Iran by using cryptocurrencies for imports, according to comments from the Russian prime Minister.The adoption of digital assets is necessary as a “safe alternative” for cross-border payments, Russian Prime Minister Mikhail Mishustin declared at a strategic session on the development of the domestic financial system on Tuesday.The prime minister added that digital assets provide a good opportunity to ensure....
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Iran’s Trade Ministry has approved the use of cryptocurrency payments for imports in a bid to bolster trade in the country. Iran’s Industry, Mines and Trade Ministry has approved the use of cryptocurrency for imports into the country amid ongoing international trade sanctions.According to local news reports, Trade Minister Reza Fatemi Amin confirmed that detailed regulations have been approved outlining the use of cryptocurrencies for trade and supplying fuel and electricity to Bitcoin (BTC) and crypto miners in the country.Amin outlined the regulatory change at an automotive industry....
Corporate lobbyists urge the government to create a proper infrastructure and avoid the emergence of business rent. In the aftermath of the first officially reported crypto payment in the sanctioned country’s foreign trade, Iran’s importers point to the necessity of stable regulations to continue trade via cryptocurrencies. On Saturday local reports cited the head of Iran’s Importers Group and Representatives of Foreign Companies (Import Association), Alireza Managhebi, who emphasized that stable regulations and infrastructure should be prepared to be able to successfully use....
Companies developing software solutions for foreign customers are urging Russian authorities to allow them to accept crypto payments. The proposal is part of a package of measures aimed at supporting IT exports suggested by an industry organization to the executive power in Moscow. IT Businesses Call on Russian Government to Permit Cross-Border Crypto Settlements Russian companies from the information technology (IT) sector want to be allowed to make and accept crypto payments when working for clients outside Russia. That’s according to a roadmap prepared by Russoft, the association of....
Iran reportedly passed a law enabling the use of bitcoin as payment for imports and establishing a framework for the asset class, including mining regulations.
Members of the State Duma are now working on amendments that will permit the use of cryptocurrency as a contractual means of payment. Digital financial assets are regarded as property under Russian law and the changes will legalize crypto payments between parties to a contract. State Duma to Amend Civil Code to Legalize Contractual Crypto Payments The lower house of Russia’s parliament, the Duma, is gearing up to remove barriers to using cryptocurrencies in contract payments. The proposals are subject to an ongoing review but according to the chairman of the Committee on....