Russian business switched to cryptocurrency

Russian companies switched to cryptocurrency in the calculations with foreign partners, despite the fact that there is no legislative framework for conducting such calculations in Russia. This is written by Izvestia with reference to lawmakers and market participants, who, however, refused to give specific examples of the use of crypts as a means of payment.

The director of the financial policy department Ivan Chebeskov, and the head of the Council of the Chamber of Commerce and Industry (TTP) on industrial and financial and investment Politics, said, told the publication about conducting transactions in cryptocurrency, said Vladimir Gamza that this method is often used when paying for goods and services from “unfriendly” countries. Moreover, against the background of sanctions, the volume of such transactions has grown several times. Specific companies that have already successfully used this payment method, officials did not name.

At the moment, there really is no legislative framework for conducting such transactions in Russia, but the authorities promise to eliminate this gap in 2023. It is planned to make payments using the capacities of one of the Russian exchanges: the Moscow or St. Petersburg exchange - their infrastructure and capacities allow you to do this. The requirements for such sites will be determined by the Ministry of Finance and the Central Bank. At the same time, the regulator assured that it is not planned to resolve the free circulation of crypts in Russia. The maximum is the creation of a system of its own national cryptocurrency - cryptocurrency, with further integration of this system with other countries.

Experts evaluate that the so-called stablcoins will have the best prospects for business settlements-crypto-monetes, which are tied to fiat (classic) currencies, usually at the rate of 1: 1. However, there are some prospects in the capital -flipped bitcoin and ether. The most popular countries where crypto acts can be used for calculations, experts call Kazakhstan, Georgia, the UAE, Turkey and Israel.

However, the prospects for the widespread use of cryptocurrencies by the Russian business remain foggy, as Europe is considering the possibility of imposing sanctions against all owners of cryptocurrencies with a Russian passport. Diplomats discuss the complete ban on the use of crypto infrastructure for Russians.