April 17, 2024

Russia may begin accepting bitcoin and some cryptocurrencies as payment for international trade in 2023, per a report from local media company Izvestia.

The announcement of a timeline for the usage of the alternative payment method for cross-border payments comes a week after the Russian Central Bank and Ministry of Finance agreed the move would be necessary.

Ivan Chebeskov, director of the financial stability market for the Russian Ministry of Finance, was cited in the Izvestia report as the source for the timeline, which was reportedly confirmed by Anatoly Aksakov, the head of the State Duma Committee –– Russia’s legislative governing body.

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