Russian officials approve use of crypto for cross-border payments

According to a report from Kommersant, Russia’s Deputy Finance Minister Alexei Moiseev said the government department has agreed “on the whole” with the central bank over a rule that would let residents send cross-border payments using cryptocurrencies.

Russian news agencies had been reporting that the central bank had been discussing the issue of cross-border crypto payments with government officials. However, the Bank of Russia reportedly opposed allowing crypto exchanges to operate legally and not accepting cryptocurrency as legal tender.