Russia Experimenting With Digital Financial Assets (DFA) in Foreign Trade, Bitcoin (BTC) Included: Finance Minister

Russia has been actively experimenting with digital financial assets (DFA) in foreign trade in line with the country's legislation, according to a senior government official.

Russia has been actively experimenting with digital financial assets (DFA) in foreign trade in line with the country’s legislation, a senior government official has said.

Speaking in an interview on the state-owned news channel Russia-24 on December 25, Russian Finance Minister Anton Siluanov discussed alternatives to the US dollar for international trade.

Siluanov mentioned that the Russian government passed legislation earlier this year authorizing foreign trades in DFAs and Bitcoin ( BTC ).

According to the minister, such foreign trade transactions have already been taking place, and Russia plans to develop and scale that further.

“We can use mined Bitcoin”Siluanov said that in the present circumstances, implementing DFAs in foreign trade as an alternative to the US dollar is “quite understandable” as it enables the use of modern infrastructure.

It’s an innovation in the global settlement system, he said, adding, “That is the future.”

Siluanov said Russia is free to use digital financial assets — including Bitcoin — in foreign trade, in line with its experimental legal regime, which came into force in September 2024.

He stated:

Siluanov’s latest remarks on DFAs and Bitcoin come a few weeks after the finance minister urged the public to stay away from crypto investment in November.

“Some people see cryptocurrency as a source of quick money. I don’t recommend it as a means of investment,” the minister stated in a speech at a local educational event on November 6.

“Definitely not. Today, there are plenty of other ways to invest and make good money,” Siluanov stated.

At the time of Siluanov’s warning, Bitcoin was hitting all-time highs above $76,000 and was heading toward a historic milestone of $100,000 smashed in just about 30 days.

As previously reported, Russia officially recognized Bitcoin as a digital financial asset as part of the bill “On Digital Financial Assets” in 2021. While providing DFAs with legal status, the law banned their use as a payment within the country.