Representative of the Ministry of Finance Ivan Chebeskov: "Cryptocurrency calculations will allow you to update the financial system" – Bits Media

The Ministry of Finance of the Russian Federation believes, that the legalization of settlements in cryptocurrencies with foreign counterparties will not lead to the decentralization of the Russian financial system.

According to the director of the department of financial policy of the ministry, Ivan Chebeskov, legalization of international payments in digital currencies will provide businesses with new opportunities for transactions. At the same time, Russian regulators do not plan to strictly regulate and regulate such transactions.

Chebeskov assured at the ICC Russia round table “Cryptocurrencies for foreign economic activity”, what business knows better, what cryptocurrencies to use, how to negotiate with counterparties and which countries it will work with:

"In my opinion, there won't be any radical change. We will not move from centralized finance to completely decentralized, we will not completely avoid intermediaries. But this, just like any technology, it will still change a lot, how we work, how financial institutions work, financial markets, how we do the calculations. Because speaking directly, That, how we do calculations, quite outdated."

Previously reported, that the legalization of cryptocurrencies for international payments by companies from Russia may begin as early as next year.