Russia Begin Using Bitcoin, Digital Assets for International Payments

Russian companies have started utilizing Bitcoin and other digital assets for international payments, according to the country's Finance Minister, Anton Siluanov.

In a statement to a local TV channel, Anton Siluanov said that Bitcoins mined in Russia can be used in the experimental process for international payments, and such payments have begun, The Caspian Post reports, citing TASS media.

Siluanov noted that this payment method should be developed and expanded.

While there are no restrictions on the purchase of cryptocurrencies in Russia, the use of these cryptocurrencies as a form of payment within the country is prohibited.

With the decree signed by Russian President Vladimir Putin on Aug. 8, the experimental use of cryptocurrencies in international payments and Forex transactions was legalized.