The Central Bank of Russia is planning to establish organizations that support cryptocurrency mining and solve international payment problems.
According to local media, the Central Bank of Russia plans to establish new institutions to support the cryptocurrency mining industry and pilot cross-border payments with cryptocurrencies, but that does not mean it will do so. changing the current cryptocurrency market landscape in Russia.
“We believe that cryptocurrencies should not be used in the country. In the case of cross-border payments, this is a kind of experiment. The bill is also currently being prepared in a pilot form," noted Ms. Nabiullina, head of the Central Bank of Russia.
Meanwhile, Central Bank vice president Aleksey Guznov shared that they are discussing with the Government about organizing mining activities. A discussion with the Government is underway to outline the specific scope of operations of mining companies, and private companies will be able to contribute initiatives in this regard in the future. he said.
Previously, Deputy Minister of Finance, Ms. Alexei Moiseev, informed that this Ministry and the Central Bank agreed that under current conditions it would not be possible without cross-border payments in cryptocurrency. , while the Bank of Russia noted its stance on not accepting the circulation of digital currencies on the territory of the Russian Federation, and opposed the legalization of cryptocurrency exchanges and payments in Russia.
“Promoting blockchain technology innovations, cryptocurrencies and businesses abroad will reduce America's geopolitical leadership and monetary policy stance,” she emphasized.
In addition, recent press releases also revealed that BRICS members including Brazil, Russia, India, China and South Africa - are working to create their own currencies to facilitate the process. international commerce.
Commodity-backed currencies are used for payments like those planned by emerging economies (BRICS), said Mark Lurie, CEO of DeFi software company Shipyard. The plan will not aim to replace the dominance of the USD.
“While investors are increasingly losing trust in the Fed, they and the BRICS do not necessarily trust a currency led by a Russian regulator,” Mr. Lurie commented.
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