The Government of the Russian Federation together with the Central Bank is working on the launch of cross-border settlements using DFA and utilitarian digital rights. This was stated by Russian Prime Minister Mikhail Mishustin.
The parties have prepared a step-by-step plan for creating a blockchain-based payment system, within which its legal and technical aspects will be analyzed.
According to Mishustin, in the future this will attract foreign investment and facilitate the movement of capital.
Let us recall that in June, a pilot project for cross-border settlements in cryptocurrency was launched on the basis of Rosbank.
In 2022, the Ministry of Finance of the Russian Federation supported the introduction of international payments in digital assets for any industry without restrictions. The Moscow Exchange or St. Petersburg Exchange were proposed as service centers for conducting transactions. In the fall, the government began to develop a mechanism for conducting such operations.
At the same time, it became known that companies in the Russian Federation were already making cross-border payments using cryptocurrencies. Transactions are allegedly carried out “in a limited volume” for settlements with unfriendly countries.
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