Cryptocurrencies could potentially be used by Russia in international settlements. Referring to the statement of the director of the fiscal policy department of the Ministry of Finance on this topic, Ivan Chebeskov writes “Interfax”.

According to the official, the discussion of the issue arose against the backdrop of the sanctions imposed on the Russian Federation.

“This issue deserves attention in my opinion, given that we have limited possibilities for settlement in the traditional, traditional payment infrastructure,” Chebeskov said.

The possibility of barter transactions using cryptocurrencies will require changes at the legislative level.

“If the digital currency is recognized as property, in principle, it will be possible to transact on foreign economic activity within the framework of exchange transactions with such a digital currency,” the speaker said.

Earlier, Ivan Chebeskov stated that the sanctions increase Russia’s motivation to develop its own crypto market infrastructure.

Recall that in mid-May, the Minister of Industry and Trade Denis Manturov talked about the “forced legalization” of digital currencies, but did not specify specific dates.

In turn, Prime Minister Mikhail Mishustin opposed the recognition of cryptocurrencies as a means of payment.

Analytical firm Elliptic believes the bitcoin industry should prevent Russia from circumventing sanctions.