The Central Bank of Russia supports the use of cryptocurrencies for international settlements and plans to promote the formulation of relevant laws

According to ChainCatcher, as reported by Bitcoin.com, Russia supports expanding the types of currencies and payment methods for international settlements. Last week, Elvira Nabiullina, the head of the Central Bank of Russia, stated that the bank will support expediting the development of a bill supporting the use of cryptocurrencies for international payments. However, Nabiullina emphasized that these payments should be introduced under an experimental sandbox legal framework.

It is known that the institution has always been against circulating and using cryptocurrencies for national payments because these assets are not regulated by national regulatory authorities. However, the country's central bank holds an open attitude towards their use in foreign settlements. In contrast, exploring payments using national digital assets (also known as CBDC) has been conducted without any exploratory sandbox environment.