Russian regulators have given the green light for Bitcoin, Ethereum and the dollar-pegged stablecoin USDT to be used in cross-border payments, according to a report from CryptoBriefing. The report states that XRP was excluded from the approved list, without detailing the reasoning behind that omission.
The move, as described, would mark a significant step for a country that has spent years tightening restrictions on domestic cryptocurrency use while exploring digital assets as a tool for international trade. Russia has faced extensive Western sanctions since 2022, and officials have periodically floated cryptocurrency as a potential channel for settling trade with partner nations outside the traditional dollar-based financial system.
Bitcoin and Ethereum are the two largest cryptocurrencies by market value, and both have deep liquidity across global exchanges. USDT, issued by Tether, is the most widely used stablecoin and is frequently cited in discussions of trade settlement because its value is designed to track the U.S. dollar. Including a stablecoin alongside Bitcoin and Ethereum suggests Russian authorities may be weighing both volatility and liquidity when deciding which assets to permit for cross-border use.
The exclusion of XRP stands out given the token’s history of being marketed for cross-border payment use cases by Ripple, the company closely associated with it. No explanation for the exclusion was provided in the report. It remains unclear whether the decision reflects specific regulatory concerns about XRP, technical considerations, or another factor entirely.
Russia’s broader digital asset framework has evolved unevenly. The country has legalized certain forms of crypto mining and allowed limited use of digital assets in foreign trade settlements under experimental legal regimes, while maintaining a ban on using cryptocurrency for domestic retail payments. Any formal approval of specific tokens for cross-border settlement would represent a more defined step in that regulatory patchwork.
Details on the scope of the approval, including which government body issued it and what compliance requirements apply, were not specified in the available report. It also remains unclear whether the approval applies broadly to all cross-border transactions or is limited to specific sectors, such as energy exports or trade with particular partner countries.
Sources disagree on this story
This article was published before the reports below were compared. The reporting above stands; what follows is where the published accounts do not agree.
CryptoBriefing and Yahoo Finance both say Russia approved Bitcoin, Ethereum and USDT while excluding XRP, but they describe fundamentally different regulatory mechanisms.
What all sources agree on
- Bitcoin, Ethereum, and USDT are approved/named on the relevant list.
- XRP is excluded from the approved list.
- The exclusion is linked to a preference for assets with greater liquidity and established/pricing history.
Where the reports disagree
1What the regulation actually permits
The new law, managed by the Bank of Russia, establishes licensed conditions for digital currencies, permitting their use for cross-border transactions but banning them as a domestic payment method.
The Bank of Russia published a draft directive on Aug. 11 that would let non-qualified investors buy digital assets through brokers, crypto exchanges or managers—within a strict annual ceiling.
What would settle it: The text of the Bank of Russia's draft directive and the underlying federal law on digital currencies.
2Existence and nature of a purchase/investment cap
The maximum amount of the total value of digital currencies acquired through a broker during the calendar year amounts to 300 thousand rubles,
Russia has enacted a regulatory framework allowing the use of Bitcoin, Ethereum, and USDT, while excluding XRP from the list of approved assets.
What would settle it: The operative articles of the Bank of Russia's draft directive specifying investment limits, if any.
What to make of it
Treat the identity of the approved coins (Bitcoin, Ethereum, USDT) and XRP's exclusion as established; do not act on either outlet's characterization of what the rule permits—cross-border payment use versus a capped domestic retail-trading scheme—until the underlying Bank of Russia directive or federal law text is checked directly.
Market Impact
If confirmed and expanded upon through official channels, the approval could influence how Russian businesses and trading partners structure settlement for international transactions. Wider institutional use of Bitcoin, Ethereum and USDT for cross-border trade could add to global transaction volumes involving these assets, though the scale of any near-term impact is difficult to gauge from the available information.
The exclusion of XRP may draw attention from the token's supporters and from Ripple, given the company's long-standing focus on cross-border payment infrastructure. Market participants will likely watch for official confirmation from Russian regulators, additional reporting, or statements from Ripple before drawing firm conclusions about the decision's rationale or durability.
The report signals a potential shift in how Russia approaches digital assets for international trade, but key details remain unconfirmed. Further clarity from Russian officials or additional reporting would help establish the scope and permanence of the approval.
Frequently Asked Questions
Which cryptocurrencies were reportedly approved by Russia for cross-border use?
According to the report, Bitcoin, Ethereum and the stablecoin USDT were approved for cross-border transactions.
Why was XRP excluded from the approved list?
The report did not specify a reason for XRP's exclusion, and no official explanation from Russian authorities has been reported.
Does this mean Russians can now use crypto for everyday purchases?
No. The reported approval concerns cross-border transactions, and Russia has maintained restrictions on using cryptocurrency for domestic retail payments.
Has Ripple or Russian regulators commented on the decision?
No official statements from Ripple or Russian regulatory bodies were included in the available reporting.