Deputy Gorelkin: Bank of Russia eased its attitude toward cryptocurrencies

According to the official, this will speed up the introduction of the relevant draft law to the State Duma

03.06.2022 - 14:45

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What’s new? Anton Gorelkin, Deputy Chairman of the State Duma Committee on Information Policy, Information Technologies and Communications, said that the Bank of Russia had eased its attitude toward the use of cryptocurrencies. He explained that the regulator now allows the use of digital assets in foreign trade and outside the country. According to him, this will bring closer the introduction of the relevant draft law to the State Duma.

Information on Gorelkin’s Telegram

What else did Gorelkin say? Deputy noted that the Bank of Russia is still against the use of cryptocurrencies in the financial structure of the Russian Federation while stressing that the draft law “On Digital Currency” developed by the Ministry of Finance also prohibits their use for domestic settlements.

Gorelkin also revealed that representatives from the Federal Taxation Service (FTS) and the Ministry of Finance have said they are ready to discuss cryptocurrency as an alternative to SWIFT for international settlements.

What events happened before? In late May, the Bank of Russia’s First Deputy Governor Ksenia Yudaeva said that the regulator did not object to the use of digital assets in international settlements and international financial infrastructure.

On May 30, the head of the State Duma Committee on the Financial Market Anatoly Aksakov said that it is not worth expecting the draft law on cryptocurrencies to be submitted to the State Duma in the near future. On the contrary, State Duma Chairman Vyacheslav Volodin noted that the introduction of the draft law to Parliament is possible before the end of the spring session.

Previously, the Bank of Russia repeatedly criticized digital currencies. For instance, Ksenia Yudaeva compared them to pyramid schemes and spoke about the threat of the ruble being replaced by cryptocurrencies as the main means of payment.

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