Russia Allows International Trade in Cryptocurrency for Any Industry - Cryptonews
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Russia Allows International Trade in Cryptocurrency for Any Industry
The Finance Ministry of Russia is looking to facilitate a more accommodating cryptocurrency policy, as it plans to permit the use of digital assets for international settlements in any industry without restrictions.
The Russian Ministry of Finance acknowledges the growing significance of cryptocurrencies within the transcontinental country as its offenses against Ukraine bring stricter restrictions on its international payment processes.
The report cites Ivan Chebeskov, the Finance Ministry's Director of Financial Policy Department, as he revealed the development in a recent interview.
He highlighted the Finance Ministry's acknowledgement of the importance of cryptocurrencies to local and international settlements in Russia.
According to Chebeskov, the Ministry of Finance has a more progressive outlook on cryptocurrencies than the Central Bank of Russia.
The Finance Ministry of Russia, on the other hand, is pushing for a less restrictive framework.
Russia aims to eliminate the need for SWIFT with the digital ruble
Despite Western sanctions resulting from its invasion of Ukraine, the Russian government's rate of cryptocurrency adoption has been surprisingly slow.
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