Volatility prevents cryptocurrencies from being a reliable store of value, but they are a good tool for payments. About this in an interview with the TV channel “Russia-24” said Russian Finance Minister Anton Siluanov.
He did not recommend that citizens invest their savings in digital currencies. At the same time, the minister highly appreciated the prospects for their use in foreign trade against the backdrop of sanctions.
Siluanov added that he does not expect a significant increase in the scale of such payments until the end of 2024:
On September 1, a law came into force in the Russian Federation allowing foreign trade settlements and exchange trading in cryptocurrencies within the framework of experimental legal regimes.
The central bank intends to make the first cross-border payments by the end of 2024. The head of the Central Bank, Elvira Nabiullina, called cryptocurrencies an “alternative settlement channel” with foreign partners, transactions with which were affected by sanctions.
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Source: Cryptocurrency
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