Russia to test cross-border cryptocurrency payments
Representatives of the REC consider the use of digital payment means as an alternative option for international settlements under restrictions
16.06.2022 - 11:40
850
1 min
0
What’s new? Veronika Nikishina, CEO of the Russian Export Center (REC), said that the institute has started working on the creation of a “cross-border digital sandbox” to make payments in cryptocurrencies under restrictions. She said that the goal of the project is to test settlement processes using digital payment means with real exporters and importers. Nikishina said this at the St. Petersburg International Economic Forum (SPIEF), TASS reports.
What else did Nikishina say? The REC CEO added that the institute has already attracted fintech firms and regulators, such as the Bank of Russia and the Federal Financial Monitoring Service of the Russian Federation (Rosfinmonitoring), to work on the project. Nikishina noted that the purpose of testing is to identify possible risks in terms of regulation, as well as the speed and security of digital payment technologies.
During St. Petersburg International Economic Forum (SPIEF), Bank of Russia governor Elvira Nabiullina said that the regulator allows the use of cryptocurrencies in international settlements. However, she noted that digital assets should not penetrate the Russian financial system and be used within the country as a means of payment.
Earlier, the State Duma adopted in the first reading a bill that introduces changes in the sphere of regulation of digital financial assets (DFAs), including an explicit ban on payments for goods and services using them in Russia.
Useful material?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Cryptocurrency rates
-
Bitcoin
$97 354
BTC
-1.06%
-
Ethereum
$3 333.3
ETH
-3.08%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.38
XRP
-6.92%
-
Dogecoin
$0.417709
DOGE
-6.75%
-
Cardano
$0.989057
ADA
-8.12%
-
Stellar XLM
$0.509358
XLM
-0.49%
-
Polkadot
$8.56
DOT
-9.85%
-
Bitcoin Cash
$502.89
BCH
-2.92%
-
Litecoin
$95.13
LTC
-5.86%