Minister of Finance Anton Siluanov, following the plenary session of the State Duma, spoke about how promising the use of cryptocurrencies is in Russia. According to him in an interview with the Russia-24 TV channel, it is not very suitable for ordinary storage of funds.
We see ups and downs in cryptocurrency rates. As a means of saving, it is volatile. I would not recommend our citizens to consider [cryptocurrencies] as a means of accumulation. But for settlements, the use of cryptocurrencies and digital financial assets is very promising, and settlements are already carried out in these instruments for a number of items [...] Cryptocurrency today can be used and is used precisely in foreign trade, in payments for export-import operations.
The experimental legal regime for the Central Bank, allowing the use of cryptocurrency in foreign trade operations, has been in effect since September 1, but it is not yet officially known whether the Central Bank has already used this opportunity or not.
It is worth noting that in November, Russia tightened legislation related to the regulation of mining and circulation of cryptocurrencies. Now digital assets will be considered property, subject to taxes, and the activities of miners will be very carefully monitored.
Read materials on the topic:
New cryptocurrency law: in Russia, you will have to pay taxes for digital currency
Under strict tax control: a new law on cryptocurrency has been adopted in Russia
