{"id":453743,"date":"2022-05-27T18:51:08","date_gmt":"2022-05-27T15:51:08","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/amid-sanctions-russia-weighs-crypto-for-international-payments-report\/"},"modified":"2022-05-27T18:51:08","modified_gmt":"2022-05-27T15:51:08","slug":"amid-sanctions-russia-weighs-crypto-for-international-payments-report","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/amid-sanctions-russia-weighs-crypto-for-international-payments-report\/","title":{"rendered":"# Amid sanctions, Russia weighs crypto for international payments: Report"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3f97a69507b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3f97a69507b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/amid-sanctions-russia-weighs-crypto-for-international-payments-report\/#%E2%80%9D_Amid_sanctions_Russia_weighs_crypto_for_international_payments_Report_%E2%80%9C\" >&#8221; Amid sanctions, Russia weighs crypto for international payments: Report  &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Amid_sanctions_Russia_weighs_crypto_for_international_payments_Report_%E2%80%9C\"><\/span>&#8221; Amid sanctions, Russia weighs crypto for international payments: Report  &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvOWY2MjE0MzYtMjhlOC00YTNkLWFjNDgtMmE2ZmNiNTM3MzVjLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>The Russian Federation is reportedly considering accepting cryptocurrencies for international payments in response to Western sanctions against the country that were prompted by its full-scale invasion of Ukraine earlier this year.\u00a0<\/p>\n<p>The Moscow-based Interfax <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> agency and Reuters <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.theglobeandmail.com\/business\/international-business\/article-russia-mulls-allowing-cryptocurrency-for-international-payments-report\/\">reported<\/a> Friday that Ivan Chebeskov, who heads the Financial Policy Division within Russia\u2019s Finance Ministry, is actively considering the possibility of incorporating crypto payments. \u201cThe idea of using digital currencies in transactions for international settlements is being actively discussed,\u201d he said. <\/p>\n<p>According to local newspaper Vedomosti, the Finance Ministry is considering adding the proposal on international payments to an updated version of a crypto law that\u2019s still under construction. <\/p>\n<p>Support for cryptocurrency legalization <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ears to be coming from all segments of the Russian government. According to trade minister Denis Manturov, Moscow plans to legalize crypto payments \u201csooner rather than later.\u201d In April, the country\u2019s Finance Ministry supported legalization in a bill titled \u201cOn Digital Currency.\u201d <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Russia&#8217;s updated crypto mining bill cuts tax amnesty for Bitcoin miners<\/em><\/strong><\/p>\n<p>The same month, the governor of the Bank of Russia admitted that the central bank was reconsidering its hostile stance toward digital assets. Central bank governor Elvira Nabiullina said that crypto is being considered among several measures to mitigate the impact of Western sanctions against the Russian economy. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/ Russia can&#8217;t &amp; won&#8217;t use crypto to evade sanctions.<\/p>\n<p>Concerns about crypto&#8217;s use for sanctions evasion are totally unfounded. They fundamentally misunderstand:<\/p>\n<p>&#8211; how sanctions work<br \/>&#8211; how crypto markets work<br \/>&#8211; how Putin is actually trying to mitigate sanctions<\/p>\n<p>I&#8217;ll explain <\/p>\n<p>\u2014 Jake Chervinsky (@jchervinsky) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/jchervinsky\/status\/1498786025438650369?ref_src=twsrc%5Etfw\">March 1, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nIt\u2019s not entirely clear how Russia would be able to use digital assets to bypass Western sanctions given that the crypto market is not large enough or liquid enough to support a sovereign nation\u2019s transaction needs. For starters, the United States Office of Foreign Assets Control has barred any U.S. person from doing business with individuals or entities on its Specially Designated Nationals and Blocked Persons (SDN) List. <\/p>\n<p>The ban on doing business with Russian SDNs exists regardless of the payment systems in place. Jake Chervinsky, head of policy for the U.S.-based Blockchain Association, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/jchervinsky\/status\/1498786040722636803\">explained<\/a>: <\/p>\n<blockquote><p>\u201cThere&#8217;s zero reason to think crypto&#8217;s existence will convince any of them to willfully violate sanctions laws, risking fines &amp; jail time.<\/p><\/blockquote>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/amid-sanctions-russia-weighs-crypto-for-international-payments-report\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Amid sanctions, Russia weighs crypto for international payments: Report &#8220; The Russian Federation is reportedly considering accepting cryptocurrencies for international payments in response to Western sanctions against the country that were prompted by its full-scale invasion of Ukraine earlier this year.\u00a0 The Moscow-based Interfax news agency and Reuters reported Friday that Ivan Chebeskov, who&#8230;<\/p>\n","protected":false},"author":1,"featured_media":453744,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDUvOWY2MjE0MzYtMjhlOC00YTNkLWFjNDgtMmE2ZmNiNTM3MzVjLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74889,74355,4975,71523],"class_list":["post-453743","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-payments","tag-adoption","tag-russia","tag-sanctions"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/453743","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=453743"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/453743\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/453744"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=453743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=453743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=453743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}