The use of digital assets in foreign transactions is set in stone, with Russia assuring that the move aligns with its AML policy while entities work with the central bank for smooth enforcement.
To counter sanctions, Russia is looking to set up a stablecoin platform with help from allies to settle cross-border payments, utilizing tokens that hold value similar to gold.
Following a barrage of sanctions and an ongoing row with the West, Russia is reportedly seeking to diversify its payment transactions with virtual currencies while mulling regulations to prevent misuse.
According to Russia's deputy finance minister, citizens can still buy and trade BTC, unlike in China, but the ban on digital currency payments remains in effect.
