Russia is now one step closer to using Bitcoin, a cryptocurrency, in international trade as Central Bank and the Finance Ministry agree on the draft bill. The two regulators have reached an agreement on a draft law declaring that, given the current economic climate, adopting bitcoin and other cryptocurrencies is essential for international trade.
According to a report from the Russian news agency Tass, the Russian Ministry of Finance and its central bank have reached an agreement on a draft law permitting bitcoin and cryptocurrency payments for settlements in foreign trade.
According to Deputy Finance Minister Alexei Moiseev, the bill "as a whole writes out how cryptocurrency can be purchased, what can be done with it, and how cross-border settlements can or cannot be made."
The agreement comes after a previous report in which Moiseev claimed that given the present sanctions situation, it was impossible for Russia to undertake international trade without the usage of bitc...