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Russia to Establish a Special Committee on the Use of Cryptocurrency in International Payments!

It has been announced that a special committee will be established and licensed for the use of cryptocurrencies in international agreements in Russia.

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Russia has announced that it will set up a special committee to issue licenses for the use of cryptocurrencies in international payments.

A Special Committee to License the Use of Cryptocurrencies in International Agreements in Russia

The committee will include experts from various ministries, the Central Bank and law enforcement. A special legal regime will also be introduced for the experiment. Alexei Moiseyev, deputy head of the Ministry of Finance, said this, according to Interfax.

The decision in the government to use cryptocurrencies in foreign economic payments was made due to the flexibility of this method.

Thus, transactions can be carried out quickly and moreover, no account is needed for transactions. At the same time, the requirements for such transfers remain minimal.

However, the deputy minister did not advise citizens to invest in cryptocurrencies.

This situation is considered by the members of the State Duma as a relevant draft of the experimental regime. Alexei Moiseyev noted that for the regime to function, it is likely that amendments to the Code of Administrative Offenses will also need to be made.

Earlier, it was reported that Russian authorities are considering the use of digital currencies for foreign payments. However, the Central Bank opposed the use of such funds for domestic payments.

In a post shared by Chainalysis, which has been working closely with the US government, recently, an anonymous person used a feature of the Bitcoin blockchain to document transactions with the Russian Foreign Military Intelligence Agency (GRU), Foreign Intelligence Service (SVR), and Federal Security Service (FSB). It was stated that it detected 986 wallets controlled by

*Not investment advice.

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