Russian Prime Minister Urged to Create a Crypto Framework for International Trade
ETE Group, a Russian logistics company, has appealed to Prime Minister Mikhail Mishustin to allow Russian businesses to use cryptocurrency for international trade.
The firm has requested changes to Russia’s Civil and Tax Codes, as well as other laws governing currency control, to establish a legal framework for crypto payments.
With nearly 500 clients, ETE specializes in cargo shipments to countries like China, India, and Turkey. It believes that creating a clear legal status for crypto could help streamline cross-border transactions and solve delays caused by sanctions. ETE also called for government action on crypto issuance, circulation, and regulation, including oversight of crypto exchanges.
The company’s request comes amid growing interest in crypto payments in Russia, which increased by 40% in 2024. However, the lack of regulation has raised concerns about the risks of using crypto for payments. Many Russian firms have turned to cryptocurrencies to bypass sanctions, which have increasingly isolated them from global financial systems like SWIFT.
With sanctions continuing to delay payments, particularly with China and Kazakhstan, ETE sees crypto as a potential solution to speed up transactions. Despite Russia’s legal framework treating the ruble as the official currency, evidence suggests that Russia and China are already using Bitcoin for energy trade settlements.
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work at Coindoo has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
