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Russia wants to legalize international payments with cryptocurrencies



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Russia wants to legalize international payments with cryptocurrencies

Russian Deputy Finance Minister Aleksey Moiseyev stated that it is an obligation for Russia to make international payments with cryptocurrencies under the current conditions, "The infrastructure we have planned may be a bit strict for cross-border transfers. For this, we need to legalize these transfers first." said.

In a statement to the Russian state channel Rossiya-24, Moiseyev stated that there are various differences of opinion between the Russian Ministry of Finance and the Russian Central Bank on the regulation of cryptocurrencies in the country.

Explaining that the use of cryptocurrencies in international trade is a necessity, Moiseyev said, “It is clear for both us and the Central Bank of Russia that cryptocurrencies are an obligation in international payments under the current conditions.” said.

Stating that the existing infrastructure planned in Russia may not be sufficient for the use of cryptocurrencies in international payments, Moiseyev said, “The infrastructure we have planned may be a bit rigid for cross-border transfers. For this, we need to legalize these transfers first. On the one hand, we need to give people this opportunity, and on the other hand, we need to have control so that money laundering and drug payments are not made.” he said.

Russian Industry and Trade Minister Denis Manturov also said on May 18 that cryptocurrencies could be legalized as a payment system in Russia.

Due to the sanctions of Western countries against the Russian financial system, many institutions and organizations in the country are having problems with their dollar and euro payments.
Category
Cryptocurrencies
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