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Russian officials allow the use of cryptocurrencies for international payments

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News Tech: A deal permitting cross-border cryptocurrency settlements has apparently been agreed by the Bank of Russia and the nation’s Ministry of Finance.

According to the report, Moiseev stated that “[the policy] generally outlines how to obtain 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.”

Russian Deputy Finance Minister Alexei Moiseev reportedly stated that the government agency and the central bank have “on the whole” agreed on a rule that would permit citizens to send cross-border payments using cryptocurrencies in a report published on Thursday by the Russian publication Kommersant. According to reports, the planned regulation change was intended to give Russian citizens access to digital wallets.

The central bank reportedly spoke with government representatives about the subject of cross-border crypto payments, according to Russian news outlets. The Bank of Russia apparently disagreed with both allowing bitcoin exchanges to function lawfully and not recognising it as legal cash.

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