External Trade Settlements in Russia Can Be Conducted Using Cryptocurrency

The State Duma of Russia has approved a law for the legalization of cryptocurrency mining, as well as a law that permits external trade and stock trade settlements to be conducted using cryptocurrency starting from September 1.

“We view cryptocurrencies as a tool for circumventing sanctions and as a focal point for high-tech exports. Today, Russia ranks second in the mining sector, and I am confident that after regulating this industry, we will surpass the United States and take the top position,” stated Anton Gorelkin, a co-author of the bill.