Russia’s Ministry of Finance is planning to allow stock exchanges to trade cryptocurrencies, but only for “highly qualified” investors. This move aligns with Russia’s steps towards legalizing crypto payments for cross-border trades.
The initiative aims to navigate regulatory complexities by recognizing cryptocurrency as a commodity. This follows Russia’s 2022 push to enable cross-border crypto settlements. In addition, the Bank of Russia is considering approving stablecoins for international trades, especially with China, amid sanctions.
Deputy governor Alexei Guznov mentioned the goal is to regulate the full process, allowing the transfer and use of stablecoins for international payments.
These measures could significantly impact Russia’s trade dynamics by offering alternative payment methods, showcasing the country’s strategic shift towards embracing digital currencies for global transactions.
