The Bank of Russia and the Finance Ministry have reached a unified stance on cryptocurrency regulation in the country. This was reported by the head of the central bank, Elvira Nabiullina, according to «Прайм».
In her words, the regulator supported the use of cryptocurrencies and mining for cross-border settlements under experimental regimes.
“We had many disputes with the Finance Ministry about cryptocurrency, but I think we have reached an agreement on this topic. And there should be no questions on our side,” said Nabiullina.
The regulator, together with the government, has been discussing the possibility since September of such operations.
In June, at Rosbank, a pilot project for conducting cross-border settlements in cryptocurrency began.
In 2022, the Russian Finance Ministry supported the introduction of international settlements in digital assets for any sector without restrictions. As service centers for conducting deals, they proposed the Moscow Exchange or SPB Exchange. In the autumn, the government began developing a mechanism for carrying out such operations.
At the same time it became known that Russian companies are already conducting cross-border payments using cryptocurrencies. The transactions are allegedly carried out ‘in a limited volume’ for settlements with unfriendly countries.