Russia starts using Bitcoin for international payments

MOSCOW

Russian companies have started using Bitcoin and other digital assets in international payments, the Russian finance minister said on Wednesday.

In a statement to the Russian state channel Rossiya-24, Anton Siluanov said that Bitcoins mined in Russia can be used in the experimental process for international payments, and such payments have begun.

Siluanov noted that this payment method should be developed and expanded.

While there are no restrictions on the purchase of cryptocurrencies in Russia, the use of these cryptocurrencies as a form of payment within the country is prohibited.

With the decree signed by Russian President Vladimir Putin on Aug. 8, the experimental use of cryptocurrencies in international payments and Forex transactions was legalized.

*Writing by Gokhan Ergocun