Category: finance ministry

Russia Starts Developing Mechanism for International Crypto Payments

Financial authorities in Russia have begun work on a mechanism to facilitate the employment of cryptocurrencies for settlements with other nations amid sanctions. The country’s central bank and finance ministry…

Bank of Russia, Finance Ministry Agree on Crypto Mining Regulation, Law Expected Soon

Major government institutions in Moscow, the central bank and the finance ministry, have aligned their positions on the regulation of cryptocurrency mining in the Russian Federation. The respective bill will…

Russian Prime Minister Orders Finance Ministry, Central Bank to Agree on Crypto by December

The central bank and the finance ministry in Moscow have been asked by the head of the Russian government to agree on a vision for the development of the country’s…

Bank of Russia to Promote Digital Ruble in Foreign Trade as Finance Ministry Pushes for Crypto Option

Days after the two institutions agreed on the need for cross-border crypto payments, the finance ministry and the central bank of Russia are once again highlighting their different priorities. While…

Russia Explores Stablecoins for Settlements With Friendly Nations

Russia is cooperating with friendly countries on the potential employment of stablecoins in international payments, a top government official unveiled. The news comes after key institutions in Moscow agreed that…

Russia Can’t Do Without Cross-Border Crypto Payments, Consensus Reached

Key government institutions have agreed that Russia needs to legalize crypto payments for international settlements. The proposal has been gaining support in the past few months since Moscow’s decision to…

Russia’s Finance Ministry Supports Circulation of Stablecoins in Country

The Russian Ministry of Finance is ready to back the legalization of transactions with stablecoins in Russia, according to a high-ranking representative. While the ministry recognizes that cryptocurrencies could lay…

Bank of Russia Ready to Legalize Crypto Mining If Miners Sell Minted Coins Abroad

The Central Bank of Russia would agree to the legalization of cryptocurrency mining, provided the proceeds from the activity are converted to fiat outside of Russia. The regulator’s latest position…