The project is part of a joint venture between the Ministry of Finance and the Central Bank of Russia. This seeks to keep the country in tune with the rest of the world, but taking the necessary care to prevent cryptocurrencies from being tools for financial crimes.
- Ministry of Finance and the Central Bank of Russia working on bill
- It would allow individuals and businesses to use cryptocurrencies for cross-border transactions.
- There are other bills in the pipeline to address a place where cryptocurrency can be sent to and from, in the form of a string of letters and numbers. these issues
- Regulators now view cryptocurrencies in a much more beneficial light
Recently published reports indicate that the Ministry of Finance and the Central Bank of Russia are working together on a bill that would allow residents and businesses in the country to enter into cross-border deals using cryptocurrencies.
International cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. payments from Russia
This was confirmed by the deputy minister of Russian Finance Alexei Moiseev, who said that the bill includes several considerations, including how the acquisition and use of cryptocurrencies can be favorable for the country, allowing international agreements between interested parties.
According to a report presented by the local media Kommersant The measure could empower individuals and companies to make use of these assets, establishing some guidelines and examples to promote the proper use of these assets in accordance with the legal provisions currently in force.
According to Moiseev, the measure also seeks to keep Russia in tune with the rest of the world in terms of payments, alluding to the fact that there are many people who make use of these assets internationally, so the country should not be the exception but we must think of mechanisms to prevent these assets to facilitate illicit activities:
“Now people are opening crypto wallets outside the Russian Federation. It is necessary that this can be done in Russia, that this is done by entities supervised by the Central Bank, which are obliged to comply with the requirements of anti-money laundering legislation, and first of all, of course, to know their client.”
A more than convenient step
While the Russian authorities and regulators had looked with great suspicion at the main cryptocurrencies after considering them a threat to the country’s economic stability, the war scenario and financial sanctions have led state agencies to relax their stance towards these assets in order to explore their usefulness in the current situation.
Already for several months both Russian President Vladimir Putin and many other members of state bodies have been calling for exploring the use of these technologies for the benefit of the Soviet nation.
By the middle of this month, head of the State Duma Committee , Anatoly Aksakov, adelantó que a bill was already underway associated with the use of cryptocurrencies for international operations, this in the midst of other associated legislative initiatives that sought to give greater legitimacy to operations with these assets.
At that time, the director of the financial stability department of the Ministry of Finance of Russia Ivan Chebeskov commented as follows:
“ We have a number of legislative initiatives that we are working on in operation, but which have not yet been formally submitted to the government. … Therefore, there may be different options as to how this can be implemented “.
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Article by Angel Di Matteo / DiarioBitcoin
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