The Russian Ministry of Finance and its central bank have agreed on a draft bill allowing bitcoin and cryptocurrency payments for international trade settlements, per a report from Russian news outlet Tass.

The bill “as a whole writes out how cryptocurrency can be purchased, what can be done with it, and how cross-border settlements can or cannot be made,” said Deputy Finance Minister Alexei Moiseev.

The agreement follows a previous report in which Moiseev stated it was impossible for Russia to conduct international trade without the use of bitcoin and cryptocurrencies due to current circumstances concerning sanctions.

By Antoni