Russian Bank Supports Cross-Border Crypto Payments and Domestic Trade

Elvira Nabiullina, the governor of Russia’s central bank, is the latest official to confirm the idea that the country is accepting cryptocurrency payments, rather than domestic payments.

According to Nabiullina, cryptocurrencies can only be used for cross-border or international payments without entering the Russian domestic financial system.

Russian central bank chief should not use digital currency as payment on platforms in Russia Say In an interview with local news agency RBC. Nabiullina believes this is why cryptocurrency prices are too volatile or volatile and therefore risky for retail investors, saying:

“Cryptocurrencies should not be traded in organized markets because these assets are too volatile and too risky for potential investors.”

Nabiullina went on to say that digital assets must comply with all requirements and policies established to protect investors. Therefore, all assets listed on the exchange must have an emissions statement and a responsible person and comply with information disclosure requirements.

Governor previously call on the government Focus on encouraging the development of digital asset projects issued by the person in charge in April. She compares this vision with private cryptocurrencies such as Bitcoin (bitcoin), without a single responsible party, and Bitcoin’s creator has yet to be identified Not at all.

Nabiullina’s latest remarks once again confirm that Russia may be preparing to start using cryptocurrencies for international trade. In May, the first deputy governor of the Russian central bank, Kosenya Yudayeva, claimed that the Russian central bank Cryptocurrencies are allowed for international payments.

In October 2021, Russian President Vladimir Putin declared that it was “too early” Trade settlement with cryptocurrencies energy resources such as oil.

related: Russian Bank Sber Completes Its First Digital Currency Transaction

Amid growing interest in international crypto payments, the Russian government has also been doing its best to prevent Russians from using crypto payments at home.back Officially Ban Crypto Payments As part of Russia’s major crypto bill in January 2021, local lawmakers on Tuesday Passes another bill on first reading The use of digital financial assets is prohibited.