The Russian Ministry of Finance and the Central Bank have agreed to legalize cryptocurrency in foreign trade

ChainCatcher news, according to the Russian newspaper "Izvestia," the Russian Ministry of Finance and the Central Bank of the Russian Federation have reached an agreement to allow the use of cryptocurrencies for payments in foreign trade.

Finance Minister Anton Siluanov announced this news. After the conclusion of the strategic meeting on "Enhancing Economic Efficiency and Ensuring a Fair Business Environment," Siluanov stated, "We believe that this area should be legalized, and its activities should be regulated by legislation. Therefore, we will work together with the Federal Financial Monitoring Service of Russia and various regulatory bodies to ensure and restore order in this field." Siluanov emphasized that using cryptocurrencies for settlements is an important task, as cryptocurrencies can not only be used for payments but also for transferring money abroad. Therefore, Siluanov stated that with the legalization of this market, strengthening the control functions of regulatory agencies will be crucial.