Mishustin instructed to submit proposals for the development of crypto assets in Russia by December

Russian Prime Minister Mikhail Mishustin presented several instructions for the development of the financial system in Russia. At the same time, he paid special attention to the development of digital asset markets.

Mishustin stressed that in the current situation and the conditions of large-scale financial sanctions imposed on the Russian Federation by Western countries, it is digital financial assets that can help bypass the restrictions. With the help of cryptocurrencies, you can pay for goods and services of foreign partners, as well as ensure the implementation of agreements.

Various departments, including the Ministry of Finance, the Central Bank of the Russian Federation, Rosfinmonitoring, the Federal Tax Service and the Federal Security Service, must develop an agreed position by December 19. In addition, Mishustin instructed the Ministry of Finance and the Central Bank to work out and present options for using the national digital currency in budget processes and payments.

“The departments should develop an agreed position on draft federal laws regulating the issuance, organization of issuance and circulation of digital currency in Russia in terms of regulating mining, as well as the use of digital currencies in international settlements,” the report says.

Earlier, the Chairman of the Central Bank of the Russian Federation, Elvira Nabiullina, said that the digital ruble could well be used for international trade.