Cryptocurrency

Russia’s financial regulators agrees on crypto use for international payments

Zegex

Russia’s Deputy Finance Minister Alexei Moiseyev said the country’s top banks and the Ministry of Finance have reached an agreement allowing the use of cryptocurrencies for international payments. report September 22nd.

The new development aims to give Russians access to digital wallets, according to the report.

Moiseev was quoted as saying:

โ€œThis part of the bill has been agreed in its entirety with the central bank โ€ฆ it is generally about how to get a cryptocurrency, what you can do with it, and how you can make payments with it in the first place. , or explain that settlement is not possible.Border settlements.”

Previously, the Bank of Russia widely opposed the use of cryptocurrencies. But as the country faces several sanctions from Western authorities, the country’s Prime Minister Mikhail Mishustin said the financial system may have to adapt to new economic realities.

Moiseev shared the same view, saying, โ€œPeople are opening cryptocurrency wallets outside the Russian Federation. You need to do this in

Mishustin has instructed financial regulators to develop agreeable regulations on cryptocurrencies by December 19.

Meanwhile, relations between Russia and cryptocurrencies remain ambiguous as President Vladimir Putin signed a law banning the use of cryptocurrencies as a means of domestic payment on July 14.

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