Putin Suggests Africa Adopt Cryptocurrency Settlements
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On October 29, 2026, Russian President Putin suggested that African countries use cryptocurrencies for cross-border settlements to safeguard financial sovereignty and reduce dependence on the traditional financial system. Reports indicate that Russia has passed a new law allowing foreign trade entities that meet regulatory requirements to conduct cryptocurrency cross-border settlements with overseas partners, while prohibiting the use of cryptocurrencies for domestic payments. Russia’s Ministry of Finance estimates that, before the law took effect, cryptocurrency-related settlements already accounted for 1% to 3% of Russia’s total trade settlements, amounting to approximately $600 billion.
AI-written from reports · updated 2 hours ago
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- CryptopolitanPutin Promotes Cryptocurrencies to African Countries for Cross-Border Settlements to Bypass the Dollar
Russian President Vladimir Putin recommended that African countries use cryptocurrencies for settlements to safeguard financial sovereignty and reduce reliance on traditional financial systems. A new Russian law now allows foreign trade entities that meet regulatory requirements to conduct cross-border cryptocurrency settlements with overseas partners, while prohibiting the use of cryptocurrencies for domestic payments; Russia’s Ministry of Finance estimates that such settlements already accounted for 1-3% of the country’s total trade settlements before the law took effect, equivalent to approximately $600 billion.
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