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Russia is reportedly legalizing digital assets for cross-border settlements under a new deal struck by the country’s top financial authorities.
According to a report by Russia-based publication Kommersant, Russian Deputy Finance Minister Alexei Moiseev said the Treasury and Central Bank had reached an agreement on the new policy.

Says Moiseev in the report,

“It describes in general terms how to cryptocurrency can purchase, what you can do with it and how you can use it to settle cross-border transactions or not.”

Moiseev previously said the country will move in that direction while ensuring there are controls in place to prevent money laundering and illegal drug purchases.

“Because the infrastructure that we want to create is too rigid for the use of cryptocurrencies in cross-border settlements, which of course we first have to legalize somehow. On the one hand, give people the opportunity to do this, on the other hand, get it under control so that there is no money laundering, no paying for medicines and so on.”

He said there is a need to give people in Russia the opportunity to open cryptocurrency wallets.

“Now people are opening crypto wallets outside of the Russian Federation. It is necessary for this to be possible in Russia, for this to be done by bodies supervised by the Central Bank, which are obliged to comply with the requirements of anti-money laundering legislation and, first of all, of course, to know their customers.”

Featured image: Shutterstock/ValDan22

Source: Crypto News Deutsch

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