December 5, 2022

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

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

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

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 settlements on a barter basis. The colleague was supported by Anatoly Aksakov, head of the State Duma committee on financial markets. He stated that he himself was ready to be the initiator of bills on international settlements:

“We need to enable our infrastructureparticipate in this process, create it and regulate it. It is necessary that the entrance to 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 in which cryptocurrencies to carry out calculations - it can be both bitcoins and 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.

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