Russian Prime Minister Mikhail Mishustin has issued a statement recently saying that payments using cryptocurrencies are a safe alternative in foreign trade.
In fact, he revealed that the use of digital assets allows Russia to strengthen financial freedom.
During the strategic session on developing the country's financial system, the Russian Prime Minister also informed that digital assets will be the best method for traditional international transactions including facilitating payments for export and import orders.
According to the leaders in Moscow, the Russian Federation must accelerate the development of several innovative areas in the use of digital asset payments because it is the best method for all parties and guarantees uninterrupted payments for trading goods with other countries.
This also includes building trust between countries and increasing trade. In addition, a large part of Russian transactions has been heavily dependent on the US dollar in recent years.
Therefore, Russia is trying to find another modus operandi in reducing its dependence on the US dollar as part of its new policy known as *dedollarization which will allow Russia to strengthen its financial independence and get rid of the US dollar.
*Dedollarization is a process of replacing the US dollar as the currency used for trading oil or commodities.
While discussing the bill, Russia's legal finance team noted that officials had talked about making cryptocurrencies the next payment option even before the final sanctions were imposed due to the ongoing war in Ukraine.
Following that, Mishutism revealed that a new law for digital currencies is being prepared by the Russian Government that will regulate cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH) and others in order to help Russia have a greater flow of digital assets. good
