“In principle, we do not object to the use of cryptocurrency in international transactions,” said first deputy governor of the central bank, Ksenia Yudaeva.

The continued Russian debate on not only the use of currencies like bitcoin, but also the process of mining bitcoin have become hot-button topics over the last year. Just this January, the central bank proposed a blanket ban on mining bitcoin.

Russia’s Ministry of Finance followed the government’s proposal with a bill of its own which intended to respect the Bitcoin ecosystem and empower those operating businesses within the space by assigning regulatory practices. Now, some members of the Russian Federation believe bitcoin is only a matter of time.

“The question is when it will happen, how it will happen and how it will be regulated. Now both the Central Bank and the government are actively engaged in this.”