Green light for the use of cryptocurrencies in international payments from Russia

Noting that they are having difficulties with international payments due to sanctions, Elvira Nabiullina, President of the Central Bank of Russia, said: “But we are ready to be flexible, to allow international payments to be made via crypto if that will help. to the companies. solve their problems.”

In his speech in the Duma, the lower wing of the Russian parliament, Nabiullina said that they want to start piloting the digital ruble as soon as possible.

Noting that digital ruble money transfers will be free for citizens, Nabiullina reported that digital ruble digital wallets can be renewed up to 300,000 rubles (about $3,700) per month.

POSSIBLE BUT SHOULD BE LIMITED

Stating that companies in Russia are willing to use cryptocurrency in international payments, Nabiullina said: “Under the new conditions, it is possible to use cryptocurrency in international payments, but we think it is necessary to limit it.”

Nabiullina stated that there are difficulties in international payments in Russia due to the sanctions, adding: “International payments are a challenge for us and we work a lot with foreign regulators. But we are ready to be flexible, to allow international payments to be made through cryptography if it helps businesses solve their problems.” (AA)