Hello dear readers, the situation in the cryptocurrency market continues to be quite volatile but in spite of this, movements continue to be generated that aim to create an apparent greater mobility or rather more financial flow in the cryptocurrency market, and by this I am referring specifically to the agreements that have been reached in Russia to accept Bitcoin and to use the cryptocurrency for international payments.
In this regard, Russia's Central Bank may have agreed with the country's Ministry of Finance to legalize cryptocurrencies to make cross-border payments easier.
According to a Thursday report by the Russian news agency “Kommersant”, the Bank of Russia and the Ministry of Finance have reached a consensus on the use of cryptocurrencies for international payments.
“Kommersant” has alluded to Russian Deputy Finance Minister Alexey Moiseyev stating that the government department and the central bank have reached agreement "in general" on a bill that would allow citizens to send money internationally using cryptocurrencies.
Russia's relationship with the cryptocurrency sector has always been tumultuous. President Vladimir Putin created a law banning digital payments in July, but the Bank of Russia was lobbying for all cryptocurrency-related activities to be criminalized in the country.
At the beginning of this month, Moiseyev highlighted the need to enable cryptocurrency services within the Russian Federation that will be monitored by the Central Bank itself, which must comply with anti-money laundering (AML) and know-your-customer (KYC) provisions.
SOURCES CONSULTED
CointeleGraph. Russian officials approve use of crypto for cross-border payments: Report. Link
OBSERVATION:
The cover image was designed by the author: @lupafilotaxia, incorporating image: Cryptonomist
greetings @lupafilotaxia _
no doubt that this financial strategy that Russia has done will allow them to be able to get out of the financial obstacles imposed 'by the US, and will help to expand much more the crypto market, we can say that it has been a necessary evil.