Elvira Nabiullina, Governor of the Central Bank of Russia, thinks that cryptocurrencies can be used for foreign payments.
The spread of cryptocurrencies and the accompanying popularity began to affect the approaches of countries to this area. While many countries have been researchers on crypto, some countries have chosen to ban them. On the other hand, Russia, which stands out with its moves in Bitcoin mining, has given signals about the use of cryptocurrencies.
Elvira Nabiullina, President of the Central Bank of Russia, stated that they are against the use of crypto money in the country, but it can be preferred for foreign payments.
Russian Central Bank Turns To Cryptocurrencies For Foreign Payments
Elvira Nabiullina, Governor of the Central Bank of Russia, stated that in a controlled “experimental” environment it is possible to allow international trade with cryptocurrencies.
Nabiullina welcomes the use of crypto payments as external payments, which have passed regulatory controls and completed the experimental stages. However, Nabiullina reiterated her opposition to the use of crypto within the country.
The Central Bank of Russia has started to work on which institutions will be under the supervision of crypto payment transactions and how they will be processed. Nabiullina stated that a draft law is being prepared and it is planned to create a suitable environment for auditing companies that will take part in the experimentation process.
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