Key dealers
- Companies in Russia test digital financial assets for cross -border transactions.
- Bank of Russia plans to expand the digital ruble pilot program at the end of the year.
Companies in Russia investigate digital financial assets and show interest in crypto residents during an experimental legal regime, Central Bank Manager Elvira Nabiullina told the State Duma on Wednesday.
“Companies test the use of digital financial assets and show interest in Cryptocurrencies settlements within the framework of an experimental legal regime,” Nabiullina said during its annual years presentation at the state of Duma.
Russia’s Central Bank Governor also described plans to expand the digital ruble pilot program, with a goal of several tens of thousands of participants at the end of the year, followed by continued expansion.
Nabiullina noted that despite the sanctions making cross-border payments more difficult and causing additional expenses for companies, these challenges have not significantly affected import and export volumes. The bank has worked with companies to solve payment difficulties when they arise.
According to the governor, Russia remains among global leaders in national payment infrastructure development, despite external restrictions.
Finance Minister Anton Siluanov confirmed in December last year Russia adopts crypto assets for foreign trade transactions in response to Western sanctions.
The shift follows sanctions introduced by the Western countries after the invasion of Ukraine, which leads to Russian companies that face challenges in traditional bank.
Last year, President Vladimir Putin signed legislation that recognized digital currencies in foreign trade during an experimental legal regime, exceptions for crypto mining and VAT sales.
The government also legalized Bitcoin mining, although it introduced regional ban on mining that began in January 2025 to handle energy consumption.
Russia’s bank has proposed A regulatory framework for the government, which allows crypto purchases for qualified investors during an experimental legal regime.
The proposal is aimed at individual and business investors with large financial assets and sets additional legal requirements at financial institutions that invest in crypto.
