FAST FIVE: Russia To Allow International Trade In Bitcoin, Crypto For Any Industry: Report

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“[The central bank] is in favor of creating a full-fledged infrastructure for the circulation of digital currencies in Russia,” said Chebeskov.

Thus, while the Ministry of Finance prefers a local approach to the regulation of digital assets, the central bank is pursuing a broader range of regulatory action.

“First of all, to protect the interests of citizens.” “Because now those who trade their digital currencies on crypto exchanges are limited,” Chebeskov continued.

“Secondly, to control when digital currency is used legally and when not.” Last month, the central bank and the Ministry of Finance agreed on a draft bill that would establish a regulatory framework for the acceptance of digital assets as payment.

The exchange of the digital ruble for foreign currencies and the opening of digital wallets to non-residents is expected to take place in 2024.

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