According to the latest report, Russia is apparently contemplating allowing cryptocurrency to be used for international payments.
Ivan Chebeskov, head of the finance ministry’s financial policy department, was quoted as saying that the idea of using digital currencies in international transactions is being actively discussed.
Officials in Russia are still debating how to oversee the country’s crypto situation, as well as the use of cryptocurrencies, with the finance ministry disagreeing with the central bank’s decision to outright ban them.
It is worth mentioning that these discussions have been around the corner for months but no common consent has yet been reached yet.
According to another newspaper, the finance ministry is considering including this idea on international payments in a revised version of a proposed law.
Chebeskov further said that allowing crypto for the settlement of international business would help combat the impact of Western sanctions, which has limited Russia’s access to the conventional cross-border payment mechanisms.
Russia is on the top of the ladder, when it comes to cryptos! Recently, cryptocurrency could be legalized in the country by this year was revealed by the Minister of Industry and Trade of the Russian Federation.
