Russian Finance Ministry Rules Out Sale of Oil for Bitcoin – Economics Bitcoin News

The Russian government considers bitcoin as a payment option for small business transactions, not for oil exports, the country’s finance ministry has indicated. A top official emphasized the department means that cryptocurrencies may be used in barter deals, but not as legal tender.Cryptocurrency payments, in terms of international transactions, are seen by the authorities in Moscow as an alternative option for small private business contracts, but this will not affect Russian oil deliveries.

The ministry proposes to employ cryptocurrency as an asset, not as a means of payment, the high-ranking official remarked. That means digital currencies can be used in barter transactions — when a buyer formally exchanges bitcoins, or other cryptocurrencies, for a product or service, he explained. Quoted by RTVI, Chebeskov elaborated:

The task is to provide an alternative, and not to say that Russia is now paying for everything with crypto. This is not about state settlements but private business only. The Minfin representative pointed out that oil would hardly be sold for bitcoins due to large volumes of these exports. And while not all of Russia’s partners would be able to transition to national currencies despite the increasing difficulties with U.S. dollar and euro payments, he believes crypto settlements are only possible under relatively small contracts and with friendly countries open to accepting coins.

This decision seems strange to me. It should be allowed for any business

Can Russia buy Bitcoin at the moment?

Crypto adoption is a goal paw $btc

no wonder, trying to avoid sanctions using modern day technology, avoid dealing with ruscist federation at all costs

Looks like a trap. Use $USDT

Aridrop available now at bigest event SHlBx10_AIRDROP

Apparently, there is no need to wait for the adoption of crypto as an official means of payment.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Analyzing Bitcoin’s Key Metrics Affected by Recent Market Circumstances: IntoTheBlock | CoinMarketCapHere's an interesting piece that seeks to analyze Bitcoin’s perpetual volume contracts, Bitcoin’s correlation to the Nasdaq 100 and Bitcoin holders' profitability. intotheblock intotheblock Bitcoin is Ponzi confirmed: when fools stopped putting money in, it went bankrupt. intotheblock always has wrong data☹️ intotheblock Dear investers we are invite you please come and check out our project we are growing day by day and $CHT IS FUNDAMENTAL token don't miss opportunity right time to buy Cross check us after invest in our project we are working hrad daynights
Source: CoinMarketCap - 🏆 290. / 63 Read more »

Sberbank to Conduct First Digital Asset Transaction on Own Platform – Finance Bitcoin NewsRussia’s largest bank, Sberbank, is going to carry out the first transfer of digital assets on its own dedicated platform within a month. This is good news to an extent! paw $btc What to expect? paw COINCRED exchange totally SCAME all ur money zero if u invest .
Source: BTCTN - 🏆 531. / 51 Read more »