The Russian Ministry of Finance officially permits the use of cryptocurrency in cross-border payments after a pilot program starting in September 2025.
Russia has officially legalized the use of cryptocurrency in international trade activities, marking an important turning point in Moscow's financial policy amid tightening sanctions from the West. Finance Minister Anton Siluanov announced that the Ministry of Finance and the Central Bank of Russia have reached an agreement on a new legal framework, allowing the use of digital assets in cross-border payments.
This decision stems from practical needs rather than technological innovation drivers. Since 2022, Russia has been cut off from the global payment system SWIFT and severely restricted in its access to the US dollar and euro due to Western sanctions. In the context of financial isolation, cryptocurrency with its borderless characteristics has become an alternative tool to maintain trade flows, especially in the energy and commodities sectors with sanctioned or friendly countries.
Siluanov emphasized the practicality of this move, asserting that the cryptocurrency sector needs to be legalized and have clear legal regulations. Along with Rosfinmonitoring and regulatory agencies, the government will establish order in this field. The decision inherits from the experimental legal regime launched in September 2025, after the trial phase was assessed as successful.
From opposition to controlled management
The relationship between Russia and cryptocurrency has changed dramatically in recent years. In 2020, the Law 'On Digital Financial Assets' prohibited the use of cryptocurrency as a legal means of payment and restricted domestic use. However, from 2022 to 2023, the Ministry of Finance and the Central Bank reached a consensus on allowing the use of cryptocurrency in cross-border trade.
In July 2024, the Parliament passed a bill allowing businesses to use cryptocurrency for international payments, effective from September. In March 2025, President Vladimir Putin issued a three-year experimental legal regime allowing professional investors to conduct limited cryptocurrency transactions. Russia also launched a state-owned cryptocurrency exchange in April 2025.
The Governor of the Central Bank Elvira Nabiullina stated that this initiative aims to integrate digital assets into international trade without undermining the stability of the ruble. Domestic use for retail purposes remains prohibited, and the upcoming legal framework is expected to strictly regulate the subjects and conditions of transactions, reflecting Moscow's cautious and calculated approach.