Russia Eyes Bitcoin For International Trade In 2023: Report
A Russian news agency reported multiple government officials deliberating on accepting bitcoin and some crypto currencies as payment for international trade in 2023.Russia may begin accepting bitcoin and some cryptocurrencies as payment for international trade in 2023, per a report from local media company Izvestia. The announcement of a timeline for the usage of the alternative payment method for cross-border payments comes a week after the Russian Central Bank and Ministry of Finance agreed the move would be necessary.Ivan Chebeskov, director of the financial stability market for the....
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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.
A director for Russia’s Ministry of Finance stated the country is seeking a non-restrictive policy for using bitcoin and crypto 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....
Russia’s monetary authority intends to conduct the first settlements with the digital ruble next year, its governor announced this week. Speaking to Russian lawmakers, the official highlighted the important role the new currency is going to play for Russia under sanctions. Russia to Trial Digital Ruble in Settlements, International Payments The full launch of the digital ruble, Russia’s central bank digital currency (CBDC), should take place before 2030, according to the approved Financial Market Development Strategy of the Ministry of Finance. However, the Central Bank of....