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Is Russia set to approve cross-border crypto transactions

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Russia’s Ministry of Finance and the Bank of Russia have agreed on a bill that will allow Russian citizens to engage in cross-border transactions using cryptocurrencies. About the proposal Russian media outlet Kommersant quoted Alexey Moiseev, the Deputy Finance Minister of Russia, who addressed a gathering at the XIX International Banking Forum “Banks of Russia […]

saw attendance from various government departments including the central bank and market regulators.

The proposed bill will allow Russian citizens to access digital wallets in order to partake in cross-border transactions.Minister Moiseev has admitted that the growing adoption of cryptocurrency around the world has contributed to the proposal. He hadearlier this month that the central bank’s approach makes the infrastructure “too rigid” to coexist with cryptocurrencies.

However, things have been improving lately. In June this year, Elvira Nabiullina, the governor of the central bank,

 

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