Russia's central bank sees no barriers for the country to use cryptocurrencies as a means of payment for international trades, Reuters reports, citing a senior bank official. At the same time, the watchdog warns that crypto legalization poses greater risks for Russian citizens and users, citing volatility issues and financial stability for Russia in general.
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"We stick to the position that the active usage of cryptocurrencies within the country, especially in the financial system of Russia, creates greater risks for citizens and users. We believe that in our country they [risks] can be quite large," said First Deputy Governor Ksenia Yudayeva.
The move comes after Russia's Ministry of Finance started weighing whether it could use cryptocurrencies for international settlements if these assets were legalized accordingly. Ivan Chebeskov, Head of the Finance Ministry's Financial Policy Department, said that the topic is being discussed actively as Russia faced limited possibilities for settlements in the traditional payment infrastructure.
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