Head of the Financial Market Committee at the Russian State Duma: It Is Necessary to Provide Cross-Border Settlements in Cryptocurrency with Regulatory Framework

Head of the Financial Market Committee at the Russian State Duma Anatoly Aksakov believes that it is necessary to provide cross-border settlements in cryptocurrency with a regulatory framework. The lower house of Russian parliament is expected to review crypto-related draft legislation this fall, including a new bill "On Digital Currency," and Aksakov has been an active participant in these efforts. The influential member of the lower house of Russian parliament issued the call after earlier this week the Russian finance ministry and central bank agreed that for the country "it is impossible to do without cross-border settlements in cryptocurrency," in the current circumstances. Russia has been facing mounting Western sanctions over its invasion of Ukraine.