Russia on the verge of accepting cryptocurrencies as a means of payment?

According to Reuters, discussions on a regulation of cryptocurrencies in Russia are intensifying day by day.

Could Russia soon accept cryptocurrencies as a means of payment? It seems possible, reports the Reuters news agency.

“The idea of ​​using digital currencies in transactions for international settlements is being suggested,” Ivan Chebeskov, head of the finance ministry’s financial policy department, told Russia’s Interfax news agency.

For several months, discussions have been underway between Russian leaders on the issue of cryptocurrency regulation in the territory, two camps clash.

At the end of February, the Russian Ministry of Finance announced a bill for the regulation of cryptocurrencies, the Central Bank of Russia has proposed since January to ban the mining of cryptocurrencies on its territory.

“The proposed changes suggest creating a legal market for digital currencies with the establishment of rules for their circulation and the circle of” authorized participants, the ministry said in a statement in February.

According to the Russian business daily Vedomosti, the Russian Finance Ministry has prepared an updated version of its draft law, following discussions that took place in April. Among the proposed changes is that of using cryptocurrencies as a means of payment “for the foreign trade activities of legal persons and individual entrepreneurs”.

“By using in particular the identifier provided by the operator of the digital commercial platform, it will be possible to pay for goods, works, services, intellectual activities (…) the source traces the essentials of the innovation” , reports the newspaper.

Another proposal: that of forcing cryptocurrency exchange platforms to cooperate with regulatory authorities, like “keeping information on the owners of digital devices and transactions with them for three years in Russia” .

However, despite ongoing discussions, “no consensus has yet been reached”, concluded Reuters.

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