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The Russian Central Bank has encouraged businesses to use cryptocurrencies for trade settlements

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2024-07-05 00:19:13
The Russian central bank has told businesses that they should use a number of options, including cryptocurrencies and other digital assets, to facilitate trade with foreign partners in order to counter sanctions imposed by the West. Speaking at a financial conference in St. Petersburg, the governor of the Russian central bank, Elvira Nabiullina, noted that the issue of payments is one of the main challenges currently facing the Russian economy. New financial technologies create opportunities for programs that did not exist before, which is why we softened our stance on the use of cryptocurrencies in Global Payments, allowing the use of digital assets in such payments.
People are discussing different alternatives, she adds. Businesses have become very nimble and aggressive. They will find solutions to their problems and often don't share them with us.
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