The Governor of the Central Bank of Russia, Elvira Nabiullina, has reiterated the institution's opposition to using cryptocurrencies for domestic payments. This aligns with Russia's current legislation, which bans the use of digital assets for transactions within the country. However, Nabiullina highlighted the central bank's support for using cryptocurrencies in international trade to counter Western sanctions. Russia is actively developing mechanisms to enable cross-border cryptocurrency transactions and plans to conduct its first experimental international payment using cryptocurrency by the end of this year. While Russia remains firm on prohibiting domestic cryptocurrency payments, it is taking a more nuanced approach to integrating cryptocurrencies into its financial system by endorsing them for international trade and military purposes.



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