The Russian central bank and Ministry of Finance have signed a draft bill allowing bitcoin and cryptocurrency payments for international trade settlements, according to Russian news reports.
The bill “as a whole writes out how cryptocurrency can be purchased, what can be done with it, and how cross-border settlements can or cannot be made,” announced Deputy Finance Minister Alexei Moiseev.
The agreement follows a previous report in which Moiseev stated it was vitally important for Russia to conduct international trade using bitcoin due to current circumstances concerning US-led sanctions.
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However, the Bank of Russia is still against the legalization of cryptocurrency exchanges and settlements in cryptocurrencies within Russia, per the report.
The central bank’s sentiment continues to illustrate the divergence of opinion between regulators and government officials in Russia. ZeroHedge report:
As previously reported by Bitcoin Magazine, the initial bill proposing a framework for digital assets was presented earlier this year by the Russian government which encouraged a ban on bitcoin mining. However, the Ministry of Finance rebutted with a bill of its own which only called for stricter regulation of the space. President Vladimir Putin then announced his support for the Ministry’s bill citing Russia’s competitive advantage with natural resources.
Since then, the Minister of Energy and the Federal Tax service have commented on how bitcoin can help small businesses or alluded to interdepartmental conversations on the matter of international trade.
Ivan Chebeskov, director of the financial stability market for the Russian Ministry of Finance previously explained that there are many more “like-minded people” on the matter.
“Also, I know that there are deputies in the State Duma who are actively engaged in this topic, perhaps it will be their initiative,” Chebeskov explained.
Baxter Dmitry
Email: baxter@thepeoplesvoice.tv
They’ve been planning implementing crypto and block chain for years as a way to gain independence from the petro dollar. All their preferred trading partners and China’s and irans soon too will all be releasing themselves from the dollar as standard.
But cryptos not secure, and millions have been stolen or lost and “somehow” the goodies just can’t find out where it went Which is a lie
But that’s their story so you know where it went.
Buy gold like the world’s entral bankers are doing Their stocking up on it as fast as they can They’ve never bought so much ever before. They know about money.
I agree, crypto is another dirty trick invented by the central bankers to avert attention away from precious metals. The trick worked, people no longer think of gold as important. Well for the most part. there are a few that understand the importance of gold.
Bitcoin down 2.8% in the last week anyway. It’s a game but surely anyone who bought $100 of BC when it first came out is sitting pretty.
Designed for Europe to buy gas with the Bitcoin next Spring when Europe comes back to its senses and starts purchasing Russia’s natural gas again.
Gold&precious Scam-SS food& comitys r the safe route
Goldie locks&the 3bears isn`t that precious NAH no no no FOOD& COMMODITYS are always the safest investment they are digging up GOLD&silver faster than they can use it-=price drops!!!!!!!!
FORGET the banks real investors TRADE and in hard time the safest route is FOOD&COMMODITys tradeing However you secure them