The adoption of digital assets provides an honest chance to make sure uninterrupted payments for imports and exports, Russia's prime minister said.
Russia may soon be taking a cue from Asian nation by using cryptocurrencies for imports, according to commentthe Russian prime minister.
The adoption of digital assets is necessary as a “safe alternative” for cross-border payments, Russian Prime Minister Mikhail Mishustin declared at a strategic session on the event of the domestic financial system on Tuesday.
The prime minister added that digital assets offer a decent chance to ensure uninterrupted payments for imports and exports. Mishustin also known the importance of ensuring school infrastructure independence and therefore the cybersecurity of monetary institutions, stating:
“We need to intensively develop innovative areas, including the adoption of digital assets. This is a safe alternative for all parties that can guarantee uninterrupted payment for the supply of goods from abroad and for export.”
Mishustin’s remarks came shortly when Iran’s trade of Mines and Trade Ministry approved the use of cryptocurrencies for imports. The native media reported on Mon that the authority affected into crypto payments due to the continuing international trade sanctions against Iran.
Russian authorities have antecedently thought of crypto for international payments. In May, Ivan Chebeskov, head of the money Policy Division among Russia’s Finance Ministry, same that the authority was considering the likelihood of incorporating crypto payments. “The plan of exploitation digital currencies in transactions for international settlements is being actively discussed,” he said at the time.
( Helen Partz, Cointelegraph, 2022 )