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Digital currencies to be unrestricted in cross-border payments — Russian finance minister

Earlier, the Bank of Russia said that the entire system of cross-border payments would undergo a transformation and could be based on national digital currencies in five to seven years

MOSCOW, April 24. /TASS/. The use of digital currencies in international payments will be completely unrestricted, Russian Finance Minister Anton Siluanov said on Monday.

"We are launching an alternative system of payments based on modern technologies (digital financial assets, digital currencies)," the minister said. "Digital currencies could be used in cross-border payments. This is just at the earliest phase of discussions, but the future lies with the use of the digital ruble, the digital yuan, and other similar currencies. This is a system of payments that is bound by no restrictions. Two parties come to an agreement, make settlement payments, and no other country could step in and freeze such payments," Siluanov noted.

Earlier, the Bank of Russia said that the entire system of cross-border payments would undergo a transformation and could be based on national digital currencies in five to seven years.

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