Russia plans to allow cryptocurrency for international payments: Report

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The Russian Finance Ministry is considering allowing the use of cryptocurrency for international payments, Interfax news agency quoted a government official as saying on Friday (May 27).

Ivan Chebeskov, head of the financial policy department of the Ministry of Finance, said: “The idea of ​​using digital currencies in transactions for international settlements is actively discussed.”

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This is not the first time that such reports have been published. In March, Pavel Zavalny, chairman of the country’s Congressional Energy Committee, told a press conference that Moscow was willing to accept bitcoin for the export of its natural resources.

His comments came after Russia’s Vladimir Putin told “unfriendly” countries to pay for Russian gas in rubles. Zavalny said only “friendly” countries would have the bitcoin option.

The Vedomosti newspaper reported on Friday, citing government officials, that the finance ministry is considering adding the latest proposal on international payments to an updated version of a bill.

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According to Friday’s Interfax report, Chebeskov said: “If digital currency is recognized as property, in principle, within the framework of barter transactions with such digital currency, it will be possible to carry out operations on the foreign economic activity”.

“This topic is under discussion and, in my opinion, deserves attention, given that we have limited possibilities for settlement in the classic and traditional payment infrastructure,” Chebeskov added.

(With agency contributions)


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