The Central Bank outlined the position on the use of cryptocurrencies in Russia

MOSCOW, May 31 — PRIME. The Bank of Russia maintains its position that the use of cryptocurrencies within Russia carries risks, but is not opposed to their use in international transactions and international financial infrastructure, said the first deputy chairman of the regulator, Ksenia Yudaeva.

“We maintain our position that the active use of cryptocurrencies within the country, especially in the financial system of the Russian Federation, creates great risks for citizens and users. We believe that in our country they can be quite large. In principle, we do not object to the use of cryptocurrencies in international transactions and international financial infrastructure,” she told reporters.

In April, the Ministry of Finance finalized and submitted to the government a draft law that provides for the creation of a comprehensive regulation of the cryptocurrency market. As Ivan Chebeskov, director of the financial policy department of the ministry, said on May 27, the concept of the bill assumes that individuals and legal entities will be able to make transactions with digital currency (CV), but it is very important that digital currency cannot be used as a means of payment. In addition, all transactions with digital currency must be carried out in strict accordance with the requirements of combating money laundering and the financing of terrorism.

He also does not exclude the participation of non-residents in the Russian market of digital currencies, foreign exchanges will be admitted to the Russian markets – subject to the organization of a Russian legal entity and work within the framework of the legislation of the Russian Federation. Chebeskov also noted that the issue of using digital currencies for barter transactions in international settlements is being actively discussed.