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Media: Rosbank launched international payments in cryptocurrencies

Vedomosti newspaper citing a representative of Rosbank reported that the bank has already launched a service of cross-border cryptocurrency payments and is now conducting the first pilot transaction.

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According to the newspaper, to work with cryptocurrencies Rosbank uses an intermediary – the Russian service B-crypto. Thus, the importer deposits rubles into the bank account, and then Rosbank, through the B-crypto service, converts them into cryptocurrencies and sends them to the specified purse.
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In order to make a payment in cryptocurrencies, a Russian company needs an agreement with a foreign supplier. The document should spell out the use of digital assets to pay for goods or services. Then the foreign counterparty issues an invoice for payment, which must contain the amount and address of the cryptocurrency wallet;

The Russian importer sends a transaction request, the bank transfers the funds to B-Crypto, and from there the converted cryptocurrencies will be transferred to the supplier. In this case, the importer must be verified by both the bank and the B-Crypto service.

It should be noted that Russia has not yet adopted legislation on the use of cryptocurrencies for cross-border payments. However, the experts interviewed by Vedomosti believe that such activities will fall under the law on digital currencies and is “within the legal framework.

Earlier, representatives of the Russian business asked to speed up the adoption of the regulatory framework for the use of cryptocurrencies in international settlements.<br