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The Bank of Russia will test international cryptocurrency payments for the first time

Date: June 1, 2023 Time: 18:20:29

The Bank of Russia plans to test the use of cryptocurrencies for international payments. This will happen for the first time and as part of an experimental legal regime. TASS writes about it.

According to the vice-president of the Central Bank, Olga Skorobogatova, the pilot project will be carried out with “interested market participants”. The economist did not name specific companies.

Earlier, Deputy Finance Minister Alexei Moiseev said that the Finance Ministry and the Central Bank consider cryptocurrencies a useful tool for cross-border deals in the current circumstances. Previously, the government approved the Ministry of Finance’s concept for the regulation of cryptocurrencies.

If accepted, users will identify themselves and open wallets at banks. After that, the Central Bank proposed to completely prohibit the payment of goods and services using cryptocurrencies, their extraction and issuance.

Previously, the trading volume on the OpenSea NFT marketplace decreased by 94% in 9 months. The decrease in interest is partly due to the depreciation of the cryptocurrency. Read more here.

Hansen Taylor
Hansen Taylor
Hansen Taylor is a full-time editor for ePrimefeed covering sports and movie news.

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