Russia’s rise to develop foreign trade in virtual currencies

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It is said that a group of Russian banks and trading companies have been selected to implement an international trade plan using virtual currencies. Run on a trial basis. This group includes members of the Russian Chamber of Commerce, the Association of Electronic Components Manufacturers, and some Russian banks.

In general, some Russian companies and institutions are facing problems to buy goods with dual military and civilian use, because these goods are subject to sanctions due to the possibility of using them in military fields and.

At the beginning of this year, the Russian government passed a law allowing the country’s central bank to allow certain companies to use virtual currencies for foreign trade. The implementation of this law has started on September 1.

Informed sources say the Central Bank of Russia wants to attract more participants to implement its pilot scheme.