Russia allows all companies to use cryptocurrencies in international exchanges
The Ministry of Finance of the Russian Federation intends to allow any business in the country to accept bitcoin and cryptocurrencies for international trade without restrictions, according to the TASS.
Ivan Chebeskov, director of the ministry's financial policy department, explained in a recent interview: " We will allow international cryptocurrency settlements for any sector without restriction ." However, although the ministry intends to offer a non-restrictive flow for the acceptance of bitcoin and cryptocurrencies, there appears to be a difference of opinion with the Bank of Russia.
"The Central Bank is in favor of creating a real infrastructure for the circulation of digital currencies in Russia," said Chebeskov.
So while the Ministry of Finance prefers a local approach to digital asset regulation, the central bank is pursuing broader regulatory action. Chebeskov specified that the Ministry of Finance has two main functions regarding the regulation of digital assets for international payments.
" We believe that local cryptocurrency infrastructure is needed," Chebeskov said. " First of all, to protect the interests of citizens ". "Because now those who trade their digital currencies on cryptocurrency exchanges are limited," Chebeskov continued. "Secondly, to control when digital currency is used legally and when not ."
Last month, the central bank and the Ministry of Finance agreed on a bill that would establish a regulatory framework for accepting digital assets as payment. This decision follows an ongoing debate between the two institutions, which has seen the presentation of several bills and has even led President Vladimir Putin to express concern that the country will not lose the opportunity to exploit its "advantage "In the ecosystem.
In addition, the central bank will reportedly begin testing the digital ruble in April 2023. The exchange of the digital ruble for foreign currencies and the opening of digital wallets to non-residents are expected to take place.
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The article Russia allows all companies to use cryptocurrencies in international exchanges comes from ScenariEconomici.it .
This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/la-russia-permette-a-tutte-le-aziende-di-usare-le-criptovalute-negli-scambi-internazionali/ on Tue, 04 Oct 2022 20:38:59 +0000.