Russian Prime Minister Mikhail Mishustin has praised digital assets as a payment instrument that would strengthen Russia’s money independence. the highest government official conjointly called for increasing the use of the ruble for international settlements.
Head of Russian Government Sees Digital Assets as Tool Ensuring ‘Uninterrupted Payments’
Digital assets can become an alternative to ancient settlements and facilitate payments for imports and exports, the prime minister of Russia has recently remarked. Quoted by RBC Crypto news outlet, Mikhail Mishustin made the comment throughout a “strategic session on the event of the domestic financial system.”
In his statement, that was streamed on-line, the top of the executive power in Moscow insisted that the Russia must intensively develop innovative areas, including the introduction of digital assets. He elaborated:
This is a safe alternative for all parties, which is able to guarantee uninterrupted payments for the supply of goods from abroad and for exports.
Russia has been mulling over ways to reduce its dependence on the U.S. dollar for quite your time as part of a policy objective referred to as “dedollarization.” Digital financial assets, a broad term in current Russian law that an have accustomed describe cryptocurrencies, are thought of as associate option even before the most recent sanctions imposed over the war in Ukraine.
A draft law “On Digital Currency” prepared by the Ministry of Finance is expected to more comprehensively regulate cryptocurrencies like bitcoin. “Of course, it will be necessary to integrate the mechanism for the circulation of digital currencies into the country’s financial system,” Mishustin said in late March, discussing the bill.
Later reports have indicated that Moscow might start using digital coins for settlements with partners in order to circumvent Western restrictions. In June, the Governor of the central bank of Russia Elvira Nabiullina admitted that cryptocurrencies can be utilized in international payments if they “do not penetrate” the Russian financial system.
In his latest address dedicated to the key tasks for the Russian government in strengthening the country’s monetary independence, Mikhail Mishustin spoke regarding the necessity to bit by bit end the utilization of the national currencies of “unfriendly countries.” The prime minister emphasized on the importance of increasing the share of the Russia ruble in international payments.
( Lubomir Tassev, Bitcoin.com, 2022 )