Elvira Nabiullina emphasized that the experimental legal regime (EPR) for cross-border payments in cryptocurrency can last up to three years. After this, a decision will be made whether legislative changes to the general regulation are necessary.
“The first international crypto-payments under experimental legal regimes will take place before the end of the year. The participants have an interest, but since this experimental legal regime concerns international payments, we consider it closed and do not disclose information on the participants or the number of transactions,” said the head of the Central Bank of the Russian Federation.
According to Elvira Nabiullina, an appropriate assessment will be made of how effective settlements in digital assets will be within the framework of the experimental legal regime.
In August, Russian President Vladimir Putin signed a law on the use of cryptocurrencies in foreign economic activity, implying the possibility of conducting exchange trading in cryptocurrencies under the control of the central bank. Sberbank and Alfa Bank announced their readiness to participate in the experiment.
Earlier, First Deputy Chairman of the State Duma Committee on Information Policy Anton Tkachev said that all information related to testing cross-border payments in cryptocurrency should not be public due to sanctions pressure.
Source: Bits
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