Russian officials approve use of crypto for cross-border payments: Report

Russia says Da to crypto. Officials in the Russian government have approved the use of cryptocurrency for cross-border payments, following in the footsteps of Iran.

The Bank of Russia and the country’s Ministry of Finance have reportedly reached an agreement allowing cross-border settlements in cryptocurrencies.

According to a Thursday report from the Russia-based publication Kommersant, Russia’s Deputy Finance Minister Alexei Moiseevthe government department has agreed “on the whole” with the central bank over a rule that would let residents send cross-border payments using cryptocurrencies. The proposed policy change was reportedly aimed at allowing Russian nationals access to digital wallets.

“[The policy] generally describes how to acquire cryptocurrency, what can be done with it, and how it can or cannot be settled with it in the first place in cross-border settlements,” said Moiseev, according to the report.with government officials. However, the Bank of Russia reportedly opposed allowing crypto exchanges to operate legally and not accepting cryptocurrency as legal tender.

Russia has had a mixed relationship with crypto. In 2020, the country passed legislation prohibiting the use of cryptocurrencies including Bitcoin (

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

Cointelegraph /  🏆 562. in US

Nigeria Latest News, Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bank of Russia, Finance Ministry Agree on Crypto Mining Regulation, Law Expected Soon – Mining Bitcoin NewsThe central bank and the finance ministry in Moscow have aligned their positions on the regulation of cryptocurrency mining in Russia.
Read more »

'No borders when it comes to fire': Book explores 100 years of firefighting in Tijuana and beyondTelemundo 20's Marinee Zavala wrote about cross-border collaboration between San Diego and Tijuana firefighters
Read more »

Regulated fintech in Bahrain enables crypto payments with BinanceA new collaboration between Binance Pay and EazyPay enables 5,000 POS terminals and payment gateways in Bahrain to adopt crypto payments.
Read more »