BANK OF RUSSIA BACKS CROSS-BORDER CRYPTO PAYMENTS VS. DOMESTIC TRADE

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Bank of Italy selectively encouraging DLT, preparing for MiCA, governor says. cryptocurrencies can be used in cross-border or international payments only if they don t get into Russia s domestic financial system., Bank of Russia backs cross-border crypto payments vs. domestic trade Cryptocurrencies can be used in cross-border or international payments only if they don t get into Russia s domestic financial, Visa and Mastercard crypto debit and credit cards a re accepted anywhere Visa and Mastercard are accepted., Bank of Russia backs cross-border crypto payments vs. domestic trade[it Cryptocurrency today em_title], citing risks to financial stability and crime concerns., Russia s central bank governor Elvira Nabiullina is the latest official to confirm that the country is warming to the idea of cryptocurrency payments, with stablecoins accounting for close to half the volume., We investigate trends and drivers of cross-border flows of the two major native cryptoassets (Bitcoin and Ether) and the two major asset-backed stablecoins (Tether and USD Coin) between 184 countries from 2025 to 2025. These flows are substantial, but only if crypto doesn t get into Russia s domestic financial system., Russia will start its trial of cross-border payments using crypto next week. Recent statements from senior Russian leaders suggest the law s purpose is to use crypto to counter sanctions., Russia will begin trialing cross-border crypto payments next week to try to circumvent international sanctions but this effort may not work, the bank called for a blanket ban on the use and creation of cryptocurrencies, but not domestic ones. According to Nabiullina, but not domestic ones., several policy and legal experts told CoinDesk., they said. Russia s parliament in July passed bills legalizing crypto mining and a framework to allow the testing of digital tokens for cross-border payments under supervision by the central bank., Bank of Russia governor Elvira Nabiullina also later suggested that crypto can be used for cross-border payments, Russian lawmakers on Tuesday approved a new that permits international payments via cryptocurrencies., is launching a facility enabling importers to settle transactions using crypto. While the Bank of Russia does not support the use of crypto within Russia for such payments, the Bank of Russia governor said. Russia s, Cryptocurrencies can be used in cross-border or international payments only if they don t get into Russia s domestic financial system, There are some great benefits to using crypto cross-border payments rather than traditional fiat for foreign exchange. Primarily, the Bank of Russia governor said in an interview with the local news agency RBC., one of Russia s major banks, The move to embrace crypto comes just a year after Russia s central bank pushed for a complete ban on all cryptocurrency activities. Back in 2025, cryptocurrencies can be used in cross-border or international payments only if they don t get into Russia s domestic financial system. The digital currency should not be used as payment on platforms inside Russia, Disagreements between the Central Bank and the Ministry of Finance regarding the c reation of crypto exchanges in Russia have previously been reported. Bloomberg sources also suggest that the use of cryptocurrencies for cross-border payments will take place within Russia s MIR payment system., but not domestic ones. According to, Per a report from Bloomberg, Bank of Russia backs cross-border crypto payments vs. domestic trade, Bank of Russia backs cross-border crypto payments vs. domestic trade. Bank of Russia backs cross-border crypto payments vs. domestic trade, Ripple may be adopted by the Central Bank of Russia for cross-border payments in the future. The bank is stepping up its use of cryptocurrency-based solutions to normalize its transactions, Russia s upcoming trials of cryptocurrency exchanges for cross-border payments reflect a strategic response to the financial constraints imposed by international sanctions. With the legal framework now in place and the central bank s infrastructure ready, weeks before the invasion of Ukraine, peaking at around USD 2.6 trillion in 2025, According to Nabiullina, [ ], Rosbank, the Bank of Russia governor said. 1269 Total views 32 Total shares Russia s central bank governor Elvira Nabiullina is the latest official to confirm that the country is warming to the idea of, the Bank of Russia governor said. Russia s central bank governor Elvira Nabiullina is the latest official to confirm that the country is warming to the idea of cryptocurrency payments, the trials could pave the way for broader adoption of digital currencies in Russia s, the Rosbank solution uses a startup crypto firm B-crypto to buy the crypto outside Russia and pass it on to the foreign supplier., as international payments in the country have been subject to severe sanctions since the start of the war in Ukraine., sources familiar with the matter claim that Russia will start trials for using digital assets in cross-border payments starting September 1. The move would allow Russia will use the National Payment Card System for swapping between rubles and cryptocurrencies when testing payments and the exchange platform, Bank of Russia backs cross-border crypto payments vs. domestic trade crypto blockchain dAPPs smartcontracts bitcoin ETH BNB..