CBR allows businesses to use crypto wallets

The Central Bank of the Russian Federation has permitted companies to use non-custodial crypto wallets for international settlements. This decision aims to simplify business interactions with foreign partners amid current economic constraints.

Andrei Chistyukhin, head of the CBR's department, noted that this relaxation applies exclusively to the corporate sector. Individuals remain restricted in transferring cryptocurrency from the Russian digital depository to personal wallets.

New rules allow businesses to manage currency risks more flexibly and conduct cross-border payments without relying on traditional banking channels. However, regulators maintain strict control over individual transactions to prevent capital flight.