Russia’s Central Bank Invests in Crypto, Seeks Legal Framework for Payments

The head of Russia’s central bank has acknowledged growing interest from Russian businesses in crypto payments for international trade deals. The governor also revealed plans to expand trials of the country’s digital ruble. Following reports of Bitcoin and other cryptocurrencies being used by Russia to bypass sanctions, the Governor spoke about work by the Bank of Russia (CBR) with companies to find solutions while highlighting their success at circumventing restrictions. She attributed the ability to maintain trade volumes despite challenges posed by sanctions to efforts made through business collaboration.