Russian IT Firms Lobby for Crypto Payments in Software Exports

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Companies developing software solutions for foreign customers are urging Russian authorities to allow them to accept crypto payments. The proposal is part of a package of measures aimed at supporting IT exports suggested by an industry organization to the executive power in Moscow.

The industry organization insists that in order to alleviate the effect of financial restrictions and lower costs, alternative payment solutions are needed, including cryptocurrencies, the Russian business daily Vedomosti reported on Thursday. The document suggests the establishment of experimental legal regimes that would facilitate the adoption of such mechanisms.

The members of the association complain about the difficulties in receiving payments from abroad. Russian businesses have had to deal with harsh sanctions imposed over Moscow’s decision to invade Ukraine which have severely limited their access to the global financial system. Russoft is also calling on Russian authorities to ease foreign exchange controls introduced amid the escalating conflict.

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