Russia's central bank to allow foreign settlements to use crypto
Russia's central bank plans to allow trading firms to use cryptocurrencies for external settlements in a controlled "experimental" environment, the head of Russia's central bank, Elvira Nabiullina, said.
During a meeting with lawmakers in the Russian State Duma, Nabiullina said: "We maintain the position that cryptocurrencies should not be used in the country. But for external payments, we believe that it should be possible in the form of experiments." She confirmed that a bill A draft is "in preparation" and would create a "special regulator" to oversee companies involved in the "experiment".
Aleksey Guznov, the central bank’s deputy chairman, said an “analysis” is currently underway to determine which companies should be allowed to use crypto payments. Nabiullina added that, in the first phase, the experiment will allow the participation of state-run institutions, without excluding the possible participation of private companies in the future. (Ria Novosti)
During a meeting with lawmakers in the Russian State Duma, Nabiullina said: "We maintain the position that cryptocurrencies should not be used in the country. But for external payments, we believe that it should be possible in the form of experiments." She confirmed that a bill A draft is "in preparation" and would create a "special regulator" to oversee companies involved in the "experiment".
Aleksey Guznov, the central bank’s deputy chairman, said an “analysis” is currently underway to determine which companies should be allowed to use crypto payments. Nabiullina added that, in the first phase, the experiment will allow the participation of state-run institutions, without excluding the possible participation of private companies in the future. (Ria Novosti)
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