The Bank of Russia and the country’s Ministry of Finance have reportedly reached an agreement allowing cross-border settlements in cryptocurrencies.
According to a Thursday report from the Russia-based publication Kommersant, Russia’s Deputy Finance Minister Alexei Moiseev said the government department has agreed “on the whole” with the central bank over a rule that would let residents send cross-border payments using cryptocurrencies. The proposed policy change was reportedly aimed at allowing Russian nationals access to digital wallets.
“[The policy] generally describes how to acquire cryptocurrency, what can be done with it, and how it can or cannot be settled with it in the first place in cross-border settlements,” said Moiseev, according to the report.
Russian news agencies had been reporting that the central bank had been discussing the issue of cross-border crypto payments with government officials. However, the Bank of Russia reportedly opposed allowing crypto exchanges to operate legally and not accepting cryptocurrency