Russia ‘Actively Discussing’ The Use Of Cryptocurrency In International Trade...
Russia’s Ministry of Finance is ‘actively considering’ the use of digital currencies for international payments, a government official reportedly said.Russia’s Ministry of Finance is considering allowing the use of cryptocurrencies for international trade, local news outlet Interfax reported on Friday.“The issue of using such digital currencies as barter transactions for international settlements is being actively discussed,” said Ivan Chebeskov, director of the financial policy department of the Ministry of Finance, per the report. Russian officials have teased at this possibility a....
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The Bank of Russia and the Ministry of Finance have reportedly agreed to move toward approving the use of cryptocurrency payments in international trade.
Russia is currently in the pilot phase of its CBDC development and is expected to complete the development by early next year. Russia is in the pilot phase of its central bank digital currency development (CBDC), and new reports indicate that the country could use its national digital currency to settle international trade.According to a report published in Reuters, Russia is reportedly planning to use the digital rouble for mutual settlements with China by next year. The digital rouble is currently being tested for settling with the banks and is expected to be completed by early next....
Authorities in Russia are mulling over the possible use of digital currencies for international payments, a high-ranking official from the finance ministry has indicated. If recognized as property, he noted, cryptocurrency can be utilized in barter deals with foreign partners. Finance Ministry Suggests Russia May Employ Crypto in International Trade The possibility of using cryptocurrencies in international settlements is under consideration at the Ministry of Finance of Russia since the country’s access to the traditional payment channels is limited, Ivan Chebeskov, director of the....
Days after the two institutions agreed on the need for cross-border crypto payments, the finance ministry and the central bank of Russia are once again highlighting their different priorities. While the treasury department aims for legalizing cryptocurrency payments in the coming months, the monetary authority says it will “actively promote” its digital currency for international settlements.
Bank of Russia Seeks to Impose Digital Ruble for International Settlements
The Central Bank of Russia (CBR) will “actively promote” the employment of the digital....
The two regulators have agreed on a draft bill saying that using bitcoin and cryptocurrencies is necessary for international trade amid the current climate.