Russia’s Chamber of Commerce and Industry proposed to conduct settlements with Africa’s countries in cryptocurrencies
This measure is designed to help the country’s economic development in the face of sanctions pressure
14.04.2022 - 08:25
304
1 min
0
What’s new? The head of the Chamber of Commerce and Industry (CCI) of Russia, Sergey Katyrin, has proposed using cryptocurrencies and national currencies when making payments with countries of the African continent. He sent the relevant theses in a letter to Russian Prime Minister Mikhail Mishustin, TASS reports.
What did Katyrin suggest? The head of the Chamber of Commerce and Industry believes that the Ministry of Finance and the Central Bank of the Russian Federation should conclude intergovernmental agreements with Africa’s countries on the use of national currencies and cryptocurrencies. For these purposes, a separate banking institution and a trust fund to support the export activities of small and medium-sized enterprises should be established.
In the most promising regions, it is proposed to establish trade representative offices and free trade zones. When conducting operations, it is necessary to take into account concessions for natural resources, as well as the issue of possible barter. Katyrin also stressed that in the context of anti-Russian sanctions, the promotion of national interests in Africa is of particular importance for Russia’s future development.
What had happened before? The Ministry of Finance of the Russian Federation called cryptocurrencies an important part of building a financial architecture. Director of the Financial Policy Department Ivan Chebeskov believes that qualified personnel and clear regulation are needed for the full development of the cryptocurrency industry.
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
$98 109
BTC
-1.32%
-
Ethereum
$3 428.67
ETH
+3.24%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.49
XRP
+2.69%
-
Dogecoin
$0.43397
DOGE
+5.84%
-
Cardano
$1.07
ADA
+8.64%
-
Stellar XLM
$0.501562
XLM
+47.32%
-
Polkadot
$8.62
DOT
+33.96%
-
Bitcoin Cash
$507.28
BCH
+3.5%
-
Litecoin
$99.4
LTC
+9.53%