CryptoMediaClub
Sunday, October 26, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Russian Businesses Urge Moscow to Allow Unchecked Use of Crypto and Stablecoins

09.09.2024
A A
0
125
VIEWS
ShareShare

The leader of one of Russia’s biggest business groups has called on the government to green-light the use of crypto and stablecoins in overseas trade.

Per the state-run news agency TASS, the comments came from Alexander Shokhin, the President of the Russian Union of Industrialists and Entrepreneurs (RSPP).

Shokhin was speaking on the sidelines of the Eastern Economic Forum in Vladivostok on September 7.

Crypto and Stablecoins – Time to ‘Remove Barriers’

Shokhin said that to “solve” ongoing “problems with payments in foreign trade,” Russian businesses “propose removing legislative barriers.”

He said firms should be given “a real opportunity to use any reliable digital currencies” in cross-border trade.

Russian businesses are struggling to do business with overseas partners due to US, EU, and UK-led sanctions regimes.

Alexander Shokhin, the President of the Russian Union of Industrialists and Entrepreneurs.
Alexander Shokhin, the President of the Russian Union of Industrialists and Entrepreneurs. (Source: Moscow Financial Forum/YouTube)

Some firms in the nation have begun using tokens like Bitcoin (BTC) in cross-border trade. Earlier this month, a new law came into force, allowing companies to use coins as a payment tool in an “experimental” sandbox operated by the Russian Central Bank.

But many firms appear to think this is too restrictive, and want to be allowed to use whatever payment tools they see fit in cross-border trade.

“It is important that businesses have a real opportunity to use any sort of reliable digital currency […] in foreign economic activity. That includes cryptocurrencies and stablecoins, which use blockchain and cryptography technology.”

Alexander Shokhin, President of the Russian Union of Industrialists and Entrepreneurs.

The business leader claimed that companies also needed access to Russian-made alternatives to SWIFT banking systems.

The RSPP chief added that his organization was “actively developing cooperation” with the Russian Ministry of Foreign Affairs.

And he hinted that in a post-sanctions world, nations all over the globe may look to ease restrictions on firms who want to use blockchain-powered assets to do business.

Exclusive: Russia's Sberbank says India business booming despite Western sanctions https://t.co/MAfFzFlbHq pic.twitter.com/FEmrver7B9

— Reuters (@Reuters) September 3, 2024

Global Trade Changes Coming?

Shokhin highlighted recent recommendations from the Business 20 (B20), a group of 900 international business leaders, to the leaders of the G20.

He said the B20 had this year asked political leaders to reconsider the way it allows firms to trade with one another.

The B20 has submitted its requests to the G20 ahead of the latter’s upcoming summit in São Paulo, Brazil, on October 24 and 25.

Russian central bank set to hike key rate by another 100 bps: Reuters poll https://t.co/T4uzKMqRYk pic.twitter.com/5ENoL5IHMg

— Reuters (@Reuters) September 2, 2024

Although the B20 made no direct mention of crypto or stablecoins in its public recommendations, it called on leaders to “promote sustainable and resilient trade and investment.” The B20 said leaders should:

“Initiate a review of restrictive unilateral trade policies by G20 countries over the past three years.”

Shokhin concluded that Moscow needs to “eliminate existing barriers in legislation” to promote trade, including crypto-powered business.

He said improvements were “primarily” required” in the “taxation and currency control” sectors.

Crypto: Taking Center Stage

Crypto-related matters have taken center stage at the Eastern Economic Forum this year. Organizers have held several sessions dedicated to crypto and BTC mining.

President Vladimir Putin also mentioned crypto mining during one of his addresses to the forum.

And a Russian government ministry said it wants to allow miners access to surplus electrical power.

The post Russian Businesses Urge Moscow to Allow Unchecked Use of Crypto and Stablecoins appeared first on Cryptonews.

Share10Tweet6ShareSharePin2

Related Posts

72-Hour Countdown: Snorter Bot Token Must Sell Out Before Claim Goes Live
All news

72-Hour Countdown: Snorter Bot Token Must Sell Out Before Claim Goes Live

26.10.2025
0

There are now only 72 hours remaining to join the Snorter Bot Token (SNORT) final buying window, marking the last...

Read moreDetails
Fed Rate Cut Odds Jump to 97% as CPI Comes in Cool at 3% – Bullish for BTC?

Fed Rate Cut Odds Jump to 97% as CPI Comes in Cool at 3% – Bullish for BTC?

26.10.2025
World Still Not Off the Hook: Thai SEC Raids Iris Scanning Hub Over WLD Token Breach

World Still Not Off the Hook: Thai SEC Raids Iris Scanning Hub Over WLD Token Breach

26.10.2025
Bitcoin Set to Explode to $180K as Global Money Floods In: VanEck CEO

Bitcoin Set to Explode to $180K as Global Money Floods In: VanEck CEO

26.10.2025
Snorter Bot Token Burns Half of Supply in Boost For Presale Buyers, 3 Days Before Launch

Snorter Bot Token Burns Half of Supply in Boost For Presale Buyers, 3 Days Before Launch

26.10.2025
Load More
Next Post
BBVA Introduces USDC to Swiss Clients, Expanding Crypto Custody Options

BBVA Introduces USDC to Swiss Clients, Expanding Crypto Custody Options

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Bitcoin Bull Run in the Making as Market Dynamics Hint at More Upside: Bitfinex

2 years ago
May XRP Worth Be Hovering to $5? Up 17.8% This Week

May XRP Worth Be Hovering to $5? Up 17.8% This Week

8 months ago

Multiple Binance Executives Resign Amid CZ’s Handling Of DOJ Probe: Report

2 years ago
South Korean Crypto Exchanges, Kimchi Coins Losing Out to International Rivals – Report

South Korean Crypto Exchanges, Kimchi Coins Losing Out to International Rivals – Report

4 weeks ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Bitcoin Set to Explode to $180K as Global Money Floods In: VanEck CEO

Snorter Bot Token Burns Half of Supply in Boost For Presale Buyers, 3 Days Before Launch

Rumble to Launch Bitcoin Tipping for 51 Million Users in Partnership With Tether

SpaceX Moves $133 Million in Bitcoin Across Wallets, Arkham Data Shows

Trump Poised to Nominate Michael Selig as Next CFTC Chair: Bloomberg

Bitcoin Price Prediction: Q4 Rally at Risk as Massive Long Liquidations Drive BTC Below Key Support

Trending

72-Hour Countdown: Snorter Bot Token Must Sell Out Before Claim Goes Live
All news

72-Hour Countdown: Snorter Bot Token Must Sell Out Before Claim Goes Live

26.10.2025
0

There are now only 72 hours remaining to join the Snorter Bot Token (SNORT) final buying window,...

Fed Rate Cut Odds Jump to 97% as CPI Comes in Cool at 3% – Bullish for BTC?

Fed Rate Cut Odds Jump to 97% as CPI Comes in Cool at 3% – Bullish for BTC?

26.10.2025
World Still Not Off the Hook: Thai SEC Raids Iris Scanning Hub Over WLD Token Breach

World Still Not Off the Hook: Thai SEC Raids Iris Scanning Hub Over WLD Token Breach

26.10.2025
Bitcoin Set to Explode to $180K as Global Money Floods In: VanEck CEO

Bitcoin Set to Explode to $180K as Global Money Floods In: VanEck CEO

26.10.2025
Snorter Bot Token Burns Half of Supply in Boost For Presale Buyers, 3 Days Before Launch

Snorter Bot Token Burns Half of Supply in Boost For Presale Buyers, 3 Days Before Launch

26.10.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz