Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!
(Kitco News) - Russia’s central bank announced Monday that it has agreed with the finance ministry to legalize the use of cryptocurrencies for cross-border payments.
The central bank has been seriously rethinking its approach to regulating the crypto industry, and this latest development is an admission that crypto payments are inevitable based on current geopolitical conditions.
According to Alexi Moiseev, the country’s deputy finance minister, many Russians rely on foreign platforms to open a crypto wallet, and that is something that needs to be handled within the country using trusted platforms.
“It is necessary to do this in Russia, involving entities supervised by the central bank, which are obliged to comply with Anti-Money Laundering and Know Your Customer requirements,” Moiseev stated.
This...
Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.
INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...