Overview
- State Duma finance chief Anatoly Aksakov said domestic payments must be in rubles and that cryptocurrencies will never function as money in Russia.
- A 2020 federal law classifies digital currencies as distinct from Russia’s monetary unit and prohibits their use to pay for goods and services inside the country.
- Aksakov stated there are no plans to review or soften the domestic payment ban.
- Authorities permit limited use of crypto for international trade settlements under test regimes, with officials citing flows measured in billions of dollars.
- The Bank of Russia continues to oppose private-crypto payments as it pilots a digital ruble CBDC designed to operate alongside cash and non-cash rubles.