Russia mulls making international payments using cryptocurrency: Report

Russia is considering allowing cryptocurrency to be used for international payments, Interfax news agency quoted a government official.

“The idea of using digital currencies in transactions for international settlements is being actively discussed,” Ivan Chebeskov, head of the finance ministry’s financial policy department, was quoted as saying.

Russian officials are wrestling with how to regulate the country's crypto market and use of digital currencies, with the finance ministry opposed to the central bank’s calls for a blanket ban.

Discussions have been ongoing for months but no consensus has yet been reached. The finance ministry is discussing adding the latest proposal on international payments