Report: Govt sees need in crypto for cross-border settlements

MOSCOW, Sep 5 (PRIME) -- The central bank and the Finance Ministry have come to an understanding that Russia will not be able to avoid cross-border settlements in cryptocurrencies in the current conditions, Deputy Finance Minister Alexei Moiseyev said on Monday in an interview to TV channel Rossiya 24.

“As to the regulation of the cryptocurrency market, the difference in approaches stays. But I should say that the central bank is revising (its stance) since the situation has changed, and we are doing the same,” Moiseyev said.

“But it’s clear already now that the central bank and we won’t cope without cross-border settlements in a cryptocurrency.

“Perhaps, the infrastructure we planned to create is too tough for the use of cryptocurrencies in cross-border settlements, which we certainly should legalize somehow. On the one hand, we should enable the people to do it, and on the other, to control it to avoid laundering, payments for drugs and so forth.”

Moiseyev added that the positions of the ministry and the central bank on regulation of mining are also getting closer.

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