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Russian Finance Minister Anton Siluanov: Russia has all the legal tools to use digital financial assets and Bitcoin in foreign trade.
According to a senior Russian government official, the country is actively experimenting with digital financial assets (DFA) in foreign trade in line with its legislation.
In an interview on the state news channel Russia-24 on December 25, Finance Minister Anton Siluanov discussed alternatives to the US dollar in international trade.
Siluanov stated that the Russian government has passed laws authorizing foreign trade with DFAs and Bitcoin. According to the minister, such foreign trade transactions are already in use, and Russia plans to develop and scale this further.
“We Can Use Mined Bitcoin.”
In the interview, Siluanov stated that, under the current circumstances, using DFAs as an alternative to the US dollar in foreign trade is “quite understandable” because it enables the use of modern infrastructure.
He added that this is an innovation in the global payment system, stating, “This is the future.”
Siluanov also mentioned that Russia is free to use digital financial assets, including Bitcoin, in foreign trade, in line with its experimental legal regime that came into effect in September 2024.
He said:
“We can make payments for the delivery of goods with digital financial assets. Additionally, it is also possible to use Bitcoin, which we mined here in the Russian Federation, within this experimental regime.”
Siluanov Warned Against Crypto Investments at Bitcoin’s ATH Levels
Siluanov’s recent remarks on DFAs and Bitcoin came just weeks after he urged the public to stay away from crypto investments in November.
Siluanov stated, “Some people see cryptocurrency as a source of quick money. I don’t recommend it as a means of investment.”
“Definitely not. Today, there are plenty of other ways to invest and make good money,” said Siluanov.
At the time of Siluanov’s warning, Bitcoin had hit all-time highs, trading above $76,000, and was on track to reach $100,000 in just 30 days.
As previously reported, Russia officially recognized Bitcoin as a digital financial asset under the 2021 “On Digital Financial Assets” law. This law granted DFAs legal status while banning their use as a means of payment within the country.
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