Russian Companies Are Using Crypto in Trade Despite Lack of Regulation, Offic...
With limited access to global finances, Russian businesses have begun settling in cryptocurrency with their partners abroad. Although these are still small-scale payments, government officials have noted their increase, which comes even before authorities have decided how to regulate these transactions. Cross-Border Crypto Settlements on the Rise in Russia as US Dollar and Euro Payments Decline Companies operating under sanctions imposed on Russia over the escalating conflict in Ukraine have started employing cryptocurrencies despite that the new regulations for this type of....
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The Ministry of Finance “partially supported” the proposition, adding that it needs further consideration. Russia's Federal Tax Service (FTS) has joined the debate around crypto regulation in Russia with an unexpectedly blunt proposition — to let Russian companies use digital currencies as a payment method when transacting internationally.On April 20, local newspaper Izvestia reported that the FTS left its official feedback on the draft of the crypto bill prepared by the Ministry of Finance. In its remarks, the fiscal agency proposed to let Russian companies use crypto for certain....
Russian companies may start transacting in cryptocurrency with partners abroad as early as next year and will be free to pick the coin they want to use, officials in Moscow have indicated. The sanctioned country is preparing to legalize foreign trade settlements with digital assets and this could happen in the coming months. Russian Government Poised to Greenlight International Transactions in Cryptocurrency Russia may authorize cross-border crypto settlements with the law “On Digital Currency” which was presented by the Ministry of Finance in February of this year and has....
Russian authorities are not going to allow cryptocurrency lending, the finance ministry has announced, clarifying its proposals for crypto market regulation. The treasury department also revealed that not all cryptocurrencies will be available to Russian investors under the new rules. Russian Government to Restrict Investor Access to Crypto Assets Authorities in Moscow are not planning to permit loans in cryptocurrency or its use as collateral, the Ministry of Finance has emphasized in an explanatory note to its regulatory proposal. The department’s concept was recently approved by....
Russian users account for as much as 10% of Huobi’s total spot trading volume. Major cryptocurrency exchange Huobi Global is expanding in Russia by rolling out its native mobile app in the country.Users in Russia can now access Huobi’s spot market and trade major cryptocurrencies like Bitcoin (BTC) through its mobile app, the firm announced on Wednesday.By introducing the app in Russia, Huobi wants to further expand in one of its most important markets. Russian users account for as much as 10% of Huobi’s total spot trading volume, an exchange representative told Cointelegraph.Ciara Sun,....
Foreign nationals should be able to buy Russia’s upcoming digital ruble through entry points providing anonymity, according to a high-ranking member of the Russian parliament. The idea circulated in Moscow aims to protect these investors from Western sanctions.
State Duma Deputy Proposes Anonymous Digital Ruble Purchases to Avoid Sanctions
Foreign investors should be provided with an option to anonymously acquire the Russian central bank digital currency (CBDC), in order to minimize the risk of falling under sanctions, the head of the State Duma Committee on Industry....