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Russia announces that BTC and DFAs can be used for international trade! Minister of Finance: This is a future trend
Russian Finance Minister Anton Siluanov said in an interview on 12/25 that Russia has a complete legal framework allowing the use of digital financial assets (DFAs) and BTC in international trade, and has revealed that relevant transactions have already begun, with plans to further expand in the future.
Russia lays out digital financial assets, opening up a new mode of international trade
Russian President Putin has signed cryptocurrency mining bills in August and October this year, followed by digital financial assets bills, cryptocurrency taxation bills, etc., and continues to explore the use of digital financial assets (DFAs) in international trade. Siluanov stated that in September of this year, Russia began to implement experimental DFA legislation, allowing the use of DFAs under certain conditions. He further stated that Russia has already used these tools when paying for imported goods, emphasizing that this is an innovation in the global settlement system and a future trend.
Russia's experimental FDA bill. Mining BTC within Russia can also participate in international trade.
Due to factors such as international sanctions, Russia is restricted in the use of the US dollar. Siluanov said that Russia hopes to reduce its reliance on the US dollar as the international trade settlement currency by using BTC.
He added that Russia officially passed the relevant regulations for BTC mining earlier this year, allowing mining within Russia, and Russia can use locally mined BTC for payment, with relevant transactions already taking place. Siluanov further stated that the application scope will be further expanded and promoted by 2025.
(Russia bans BTC mining! Mining completely banned in 10 regions for 6 years, with power restrictions on mining in some regions during winter)
Be cautious with cryptocurrencies and choose a stable investment approach.
Despite Russia actively adopting DFAs and BTC as international trade tools, Siluanov remains cautious about investing in cryptocurrencies. Previously, he stated in an educational promotion event, 'It is not recommended to consider cryptocurrencies as investment tools.' At that time, the price of BTC had already exceeded 76K and later reached the historical milestone of 100K in the following month.
Siluanov also reminded in the interview that although cryptocurrencies may seem like an opportunity to get rich overnight, their volatility and investment risks should not be ignored, emphasizing the need to choose more stable investment methods.
(The Russian government has approved a cryptocurrency tax bill, exempting value-added tax and incorporating exchange income into securities income)
This article: Russia announces that Bitcoin and DFAs can be used for international trade! Finance Minister: This is the future trend. It first appeared on Chain News ABMedia.