2024-07-31 19:08:45
Russia is considering legalizing the use of cryptocurrencies for international payments as the country faces continued financial pressure from Western sanctions, CNBC reported.
The State Duma, the lower house of the Russian parliament, will consider a law today that would allow international payments to be made using cryptocurrencies, Elvira Nabiulina, governor of Russia’s central bank, said today.
“Today, the State Duma is considering a law that allows cryptocurrency settlements under an experimental regime,” Nabiulina said, speaking in the Russian Federation Council, the upper house of the Russian parliament, BTA reported.
Russia’s central bank is also looking to transfer money across borders using crypto, with the central bank’s governor saying crypto-based payments will be made before the end of this year.
Meanwhile, tomorrow, July 31, a press conference will be held in the Russian capital regarding legislative support for the development of digital financial products – from the issuance of specialized tokens to the use of cryptocurrencies and digital rights in international payments, reports TASS.
Anatoly Aksakov, Duma deputy and Chairman of the Committee on Economic Policy, Innovative Development and Entrepreneurship and Chairman of the State Duma Committee on the Financial Market, will talk about new opportunities for issuing and distributing digital products based on legislation on cryptocurrencies, mining and the experimental legal regimes, as well as for the first issue of charity tokens in Russia.