(Reuters) – Russia is considering allowing the use of cryptocurrencies for international payments, a government official was quoted by the Interfax news agency as saying on Friday.
“The idea of using digital currencies in transactions for international settlements is being actively discussed,” Ivan Chebeskov, head of the finance ministry’s financial policy department, was quoted by the agency as saying.
Russian officials are questioning how to regulate the country’s cryptocurrency market and the use of digital currencies, with the finance ministry opposing central bank calls for a blanket ban.
Discussions have been going on for months and although the government expects cryptocurrencies to be legalized sooner or later as a means of payment, no consensus has yet been reached.
The finance ministry is discussing adding the latest proposal on international payments to an updated version of a bill, the Vedomosti newspaper reported on Friday, citing government officials.
Allowing cryptocurrency as a means of settlement for international trade would help thwart the impact of Western sanctions, which have seen Russia’s access to traditional cross-border payment methods “limited”, Chebeskov said.
(Reuters report, French version Augustin Turpin, edited by Sophie Louet)
click here for restrictions
©2022 Reuters
