Russia Establishes Legal Framework for Crypto to Circumvent Western Sanctions
Russia's Ministry of Finance and Central Bank have reached a formal agreement to legalize cryptocurrency for settling international trade deals. This move builds on the experimental legal regime introduced in September, which initially allowed crypto to be piloted for cross-border transactions.
The decision is a direct response to Western sanctions, providing Russian businesses with an alternative payment channel outside traditional banking systems. Finance Minister Anton Siluanov emphasized that while the primary goal is sanctions relief, regulators remain focused on mitigating risks through strict oversight.
All crypto transactions will flow through a regulated infrastructure supervised by Russia's Central Bank, with stringent AML and KYC requirements enforced by the Federal Financial Monitoring Service. The country now leads Europe in crypto adoption as it pivots toward decentralized financial tools.
