MOSCOW—Russia appears to be moving toward allowing cross-border settlements in cryptocurrency.
The Bank of Russia and the country’s Ministry of Finance have reportedly have reached an agreement to permit the practice, Cointelegraph reported.
According to a report from the Russia-based publication Kommersant, Russia’s Deputy Finance Minister Alexei Moiseev said the 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, Cointelegraph said.
“[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.
Differences Expressed
Russian news agencies had been reporting that the central bank had been discussing the issue of cross-border crypto payments with government officials. However, the Bank of Russia reportedly opposed allowing crypto exchanges to operate legally and not accepting cryptocurrency as legal tender, Cointelegraph noted.
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