In Russia, international transactions in cryptocurrencies can be launched as early as 2023

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The use of cryptocurrencies for international payments by companies from Russia may begin as early as next year, said Ivan Chebeskov, a representative of the Ministry of Finance.

According to the director of the financial departmentstability of the Ministry of Finance, the use of cryptocurrencies for international payments is quite acceptable within the framework of the bill on the legalization of digital assets, which was submitted to the State Duma at the beginning of the year. Later, the document was revised several times. 

Chebeskov noted that within the framework of the billdigital assets can be recognized as property, so companies can use them for international payments on barter terms. The head of the State Duma Committee on Financial Markets, Anatoly Aksakov, supported his colleague. He stated that he himself was ready to initiate bills on international payments:

“We need to give our infrastructure the opportunityparticipate in this process, create it and regulate it. It is necessary that entry into the crypto market be through our infrastructure under the strict control of the regulator.”

At the same time, Aksakov noted that companies will be able tochoose which cryptocurrencies to make payments in - it can be either bitcoins or other coins or stablecoins. Now the issue of cross-border payments in cryptocurrencies is also being discussed by other departments - the Central Bank of the Russian Federation, the Tax Service and the Ministry of Economy.

Let us recall that in mid-July Vladimir Putinsigned amendments to the law on the securities market that regulate the circulation of digital financial assets (DFAs). In particular, the amendments prohibit payment for goods, works and services with such assets.