Russia’s Central Bank May Allow Use of Cryptos in External Transactions

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Ksenia Yudaeva, Deputy Chairman of the Central Bank of Russia, has said digital currencies can be used in settlements with external counterparties of Russia.

However, the regulator will not allow the legalization of such an instrument in the domestic market. In fact, it is ready to allow the use of digital currencies, but only within the international infrastructure.

As far as Bitcoin is concerned, the position of the Central Bank has not changed. It is also against the use of the virtual currency when paying for goods and services within the country. This means that the use of cryptocurrencies would only be allowed at an international level.

Ksenia Yudaeva said in April that BTC is a pyramid scheme that will inevitably collapse. She said that the legalization of such a tool can lead to the fact that many Russians will lose their money.

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