Russia Moves to Legalize Cross-Border Crypto While Tightening Domestic Oversight
Russia, now recognized as Europe's leading cryptocurrency adopter, is overhauling its digital asset framework. The Finance Ministry and Central Bank are collaborating on regulations to formalize crypto in cross-border trade while imposing stricter domestic controls. This shift aims to replace the current pilot system with clear legal guidelines—rewarding compliant use and penalizing illicit activity.
Prime Minister Mikhail Mishustin recently chaired a strategic meeting where officials agreed on the urgent need for structured oversight. Finance Minister Anton Siluanov highlighted cryptocurrencies' growing role in import payments and international settlements. The proposed framework reflects Moscow's attempt to harness crypto's borderless nature while maintaining monetary sovereignty.
