Russia has officially authorized the use of cryptocurrencies for international trade, a major policy shift announced in 2025 and effective from summer 2024. This decision is regulated by the Bank of Russia, Rosfinmonitoring, and the State Duma, and is aimed at circumventing Western sanctions that have restricted access to traditional financial systems like SWIFT.
The legal framework permits the use of Bitcoin (BTC), Ethereum (ETH), and stablecoins such as USDT for cross-border transactions, while maintaining domestic restrictions on crypto payments. This move addresses economic pressures from sanctions, enabling Russian exporters in sectors like energy and commodities to settle invoices with cryptocurrencies.
Yury Chikhanchin, Head of Rosfinmonitoring, emphasized enhanced oversight, stating, "We will enhance our oversight on anti-money laundering and counter-terrorism financing for the new cross-border crypto flows." The policy includes strict AML and KYC protocols, adding compliance complexity for businesses.
Following the announcement, Bitcoin prices surged approximately 2.8% to around $108,500 on October 22, 2025, reflecting market optimism. This shift reverses Russia's 2021 ban on crypto payments and aligns with de-dollarization trends, potentially influencing other BRICS nations. However, challenges like price volatility and increased Western regulatory scrutiny remain.
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