Russia Legalizes Crypto for Foreign Trade Settlements

Russia’s Ministry of Finance and Central Bank have agreed to legalize cryptocurrency for foreign trade settlements, formalizing an experimental regime to permit cross‑border crypto payments. Officials say the move is designed to give sanctioned Russian firms an alternative to Western banking channels (including SWIFT) while preserving a ban on domestic crypto payments to protect the ruble. The framework will route cross‑border crypto transactions through regulated infrastructure under Central Bank supervision and impose strict AML/KYC and oversight measures enforced by the Federal Financial Monitoring Service, Finance Minister Anton Siluanov said. Separately, State Duma deputy Igor Antropenko has proposed amending the Family Code to treat crypto acquired during marriage as joint property, and his draft was sent to Prime Minister Mikhail Mishustin and Central Bank Chair Elvira Nabiullina. Russia recorded $376.3 billion in crypto transactions between July 2024 and June 2025, underscoring rising on‑chain activity that may increase demand for the new settlement channel.