Forex News

Russia mulls allowing cryptocurrency for international payments – Ifax

2022.05.27 17:16

Russia mulls allowing cryptocurrency for international payments - Ifax
FILE PHOTO: Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 14, 2018. REUTERS/Dado Ruvic/Illustration

(Reuters) – Russia is considering allowing cryptocurrency to be used for international payments, Interfax news agency quoted a government official 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 as saying.

Russian officials are wrestling with how to regulate the country’s crypto market and use of digital currencies, with the finance ministry opposed to the central bank’s calls for a blanket ban.

Discussions have been ongoing for months and though the government expects cryptocurrencies to be legalised as a means of payment sooner or later, no consensus has yet been reached.

The finance ministry is discussing adding the latest proposal on international payments to an updated version of a draft law, the Vedomosti newspaper reported on Friday, citing government officials.

Allowing crypto as a means of settlement for international trade would help counter the impact of Western sanctions, which has seen Russia’s access to traditional cross-border payment mechanisms “limited,” Chebeskov said.

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 95,964.71 0.59%
ethereum
Ethereum (ETH) $ 3,486.83 4.75%
tether
Tether (USDT) $ 0.999806 0.12%
solana
Solana (SOL) $ 242.02 2.26%
bnb
BNB (BNB) $ 646.97 0.66%
xrp
XRP (XRP) $ 1.48 9.36%
dogecoin
Dogecoin (DOGE) $ 0.414485 0.09%
usd-coin
USDC (USDC) $ 0.999457 0.16%
cardano
Cardano (ADA) $ 0.998365 1.79%
staked-ether
Lido Staked Ether (STETH) $ 3,478.67 4.54%
avalanche-2
Avalanche (AVAX) $ 42.82 7.74%
tron
TRON (TRX) $ 0.19891 2.76%
the-open-network
Toncoin (TON) $ 6.15 0.33%
stellar
Stellar (XLM) $ 0.518145 9.59%
shiba-inu
Shiba Inu (SHIB) $ 0.000025 1.88%
wrapped-steth
Wrapped stETH (WSTETH) $ 4,116.11 4.86%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 95,402.56 0.78%
polkadot
Polkadot (DOT) $ 8.50 0.60%
chainlink
Chainlink (LINK) $ 18.38 10.10%
bitcoin-cash
Bitcoin Cash (BCH) $ 512.53 3.05%
weth
WETH (WETH) $ 3,476.87 4.63%
sui
Sui (SUI) $ 3.26 1.78%
pepe
Pepe (PEPE) $ 0.000019 1.05%
near
NEAR Protocol (NEAR) $ 6.65 3.52%
leo-token
LEO Token (LEO) $ 8.35 2.50%
litecoin
Litecoin (LTC) $ 95.73 1.42%
uniswap
Uniswap (UNI) $ 11.88 14.43%
aptos
Aptos (APT) $ 12.42 4.64%
wrapped-eeth
Wrapped eETH (WEETH) $ 3,664.72 4.73%
internet-computer
Internet Computer (ICP) $ 11.89 10.98%
hedera-hashgraph
Hedera (HBAR) $ 0.138421 2.07%
usds
USDS (USDS) $ 0.999454 0.48%
crypto-com-chain
Cronos (CRO) $ 0.184075 0.11%
ethereum-classic
Ethereum Classic (ETC) $ 30.93 11.20%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.578198 7.10%
render-token
Render (RENDER) $ 7.85 5.05%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.47 1.48%
bittensor
Bittensor (TAO) $ 521.30 3.62%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.17%
kaspa
Kaspa (KAS) $ 0.150869 0.54%
arbitrum
Arbitrum (ARB) $ 0.922223 12.46%
dai
Dai (DAI) $ 0.999548 0.12%
celestia
Celestia (TIA) $ 8.11 5.24%
whitebit
WhiteBIT Coin (WBT) $ 24.01 1.48%
vechain
VeChain (VET) $ 0.041946 4.34%
bonk
Bonk (BONK) $ 0.000045 1.11%
filecoin
Filecoin (FIL) $ 5.60 3.52%
mantra-dao
MANTRA (OM) $ 3.62 1.17%
dogwifcoin
dogwifhat (WIF) $ 3.25 4.09%
blockstack
Stacks (STX) $ 2.17 12.15%