Russia has integrated the use of digital assets as payment for international transactions in its legislation. President Vladimir Putin signed into law a document that describes using these assets as payment for international settlements, a use case not contemplated in any law, appointing the Central Bank of Russia as the overseer of these transactions. Russia […]Russia Regulates Use of Digital Assets for International Settlements
Russia has integrated the use of digital assets as payment for international transactions in its legislation. President Vladimir Putin signed into law a document that describes using these assets as payment for international settlements, a use case not contemplated in any law, appointing the Central Bank of Russia as the overseer of these transactions. Russia […]
Russian companies may start transacting in cryptocurrency with partners abroad as early as next year and will be free to pick the coin they want to use, officials in Moscow have indicated. The sanctioned country is preparing to legalize foreign trade settlements with digital assets and this could happen in the coming months. Russian Government […]
Days after the two institutions agreed on the need for cross-border crypto payments, the finance ministry and the central bank of Russia are once again highlighting their different priorities. While the treasury department aims for legalizing cryptocurrency payments in the coming months, the monetary authority says it will “actively promote” its digital currency for international […]
A high-ranking member of the Russian parliament has urged for the adoption of a relevant legal framework to properly regulate cross-border crypto payments. His proposal comes after key regulators in Moscow said that Russia needs to allow the use of cryptocurrencies in foreign trade, now that it’s having to deal with serious financial restrictions. Financial […]
Key government institutions have agreed that Russia needs to legalize crypto payments for international settlements. The proposal has been gaining support in the past few months since Moscow’s decision to invade Ukraine was met with wave after wave of Western sanctions. Financial Authorities in Russia Consider Legalizing International Cryptocurrency Payments In the current conditions, “it […]
Russian Prime Minister Mikhail Mishustin has praised digital assets as a payment instrument that could strengthen Russia’s financial independence. The top government official also called for increasing the use of the ruble for international settlements. Head of Russian Government Sees Digital Assets as Tool Ensuring ‘Uninterrupted Payments’ Digital assets can become an alternative to traditional […]
A Russian university is ready to test its blockchain-based analogue to the global payment messaging network SWIFT, from which Russian banks were cut off as part of Western sanctions. The developers say their system would not allow the disconnecting of countries and banks. Russian Developers Create SWIFT Substitute Using Blockchain Experts from the Competence Center […]
Russian financial watchdog Rosfinmonitoring is ready to accept the use of cryptocurrencies in international settlements, the head of the agency, Yuri Chikhanchin, has indicated. The statement adds to growing support for the legalization of international crypto payments in Russia amid financial restrictions imposed over its invasion of Ukraine. Top Financial Regulator in Russia Welcomes International […]
Cryptocurrencies can be used for international payments if they don’t penetrate the Russian financial system, the head of Bank of Russia has stated. The governor also insisted that the digital assets should not be traded on platforms operating inside the country. Bank of Russia Chair Ready to Accept Cryptocurrency Payments for International Settlements Cryptocurrencies can […]