{"id":18628,"date":"2024-11-15T14:39:00","date_gmt":"2024-11-15T12:39:00","guid":{"rendered":"https:\/\/forklog.com\/en\/russian-finance-ministry-acknowledges-cryptocurrencies-as-payment-means\/"},"modified":"2024-11-15T14:39:00","modified_gmt":"2024-11-15T12:39:00","slug":"russian-finance-ministry-acknowledges-cryptocurrencies-as-payment-means","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/russian-finance-ministry-acknowledges-cryptocurrencies-as-payment-means\/","title":{"rendered":"Russian Finance Ministry Acknowledges Cryptocurrencies as Payment Means"},"content":{"rendered":"<p>Cryptocurrencies, while too volatile to serve as a reliable store of value, are effective tools for transactions, according to Russian Finance Minister Anton Siluanov in an interview with the <a href=\"https:\/\/smotrim.ru\/brand\/40925?utm_source=internal&#038;utm_medium=channel&#038;utm_campaign=tvplist\">Russia 24<\/a> television channel.<\/p>\n<p>He advised citizens against investing their savings in digital currencies, yet praised their potential use in foreign trade amidst sanctions.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cCryptocurrencies are already being used for a range of positions in export and import transactions,\u201d he stated.<\/p>\n<\/blockquote>\n<p>Siluanov further noted that he does not anticipate a significant increase in the volume of such payments by the end of 2024:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>\u201cI don\u2019t think there will be large volumes, but this opportunity will certainly be utilized.\u201d<\/p>\n<\/blockquote>\n<p>Since September 1, a <a href=\"https:\/\/forklog.com\/en\/news\/putin-approves-legalisation-of-cryptocurrency-mining-and-trading-under-experimental-legal-regimes\">law<\/a> has come into effect in Russia, permitting foreign trade settlements and cryptocurrency exchange trading under experimental legal regimes.<\/p>\n<p>The central bank plans to conduct the first cross-border payments <a href=\"https:\/\/forklog.com\/en\/news\/russias-central-bank-sets-date-for-cryptocurrency-experiments\">by the end of 2024<\/a>. Central Bank Governor Elvira Nabiullina described cryptocurrencies as an \u201calternative payment channel\u201d with foreign partners affected by sanctions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrencies, while too volatile to serve as a reliable store of value, are effective tools for transactions, according to Russian Finance Minister Anton Siluanov in an interview with the Russia 24 television channel. He advised citizens against investing their savings in digital currencies, yet praised their potential use in foreign trade amidst sanctions. \u201cCryptocurrencies are [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":18627,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1269,1138,1450],"class_list":["post-18628","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrencies","tag-opinions","tag-russian-ministry-of-finance"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18628","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=18628"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18628\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/18627"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=18628"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=18628"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=18628"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}