A Russian senator has accused the Central Bank of Russia of ignoring businesses that use cryptocurrency as a payment tool in international trade. The senator called for regulation in the crypto sector and the establishment of rules for the industry. Mainstream media outlets in Russia have reported an increase in the use of fiat-pegged stablecoins by smaller domestic importers and exporters. It is also reported that Russian traders are using cryptoassets alongside other foreign currencies. Despite the senator's claims, larger Russian firms are expected to avoid using cryptocurrency as a payment tool, while smaller companies are embracing it. The Central Bank of Russia remains opposed to the use of cryptocurrency in the domestic economy and wants to force industrial miners to sell their coins overseas. The bank's head, Elvira Nabiullina, is known for her skepticism towards crypto and is an ally of President Vladimir Putin. However, a top MP stated that Russian firms are already doing overseas business in crypto and do not need a law to do so. The Central Bank aims to launch its digital ruble project as an alternative to dollar- and crypto-powered business and trade by 2025.
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