A proposal to permit companies to use cryptocurrency in cross-border settlements has made its way to a draft law designed to regulate Russia’s crypto space this year. According to a press report, the finance ministry has introduced a number of revisions to the legislation it has been working on in the past few months.
The one major institution missing from that list is the Central Bank of Russia, which remains opposed to any legalization of cryptocurrencies like bitcoin and respectively disagrees with the Minfin’s regulatory concept which aims to establish a legal market for digital assets. The ministry’s legislation was firstThere is a wider consensus among Russian authorities that cryptocurrency should not be accepted as legal tender in the country.
Nevertheless, a provision introduced with the latest revisions would allow Russian legal entities and individual entrepreneurs to use cryptocurrencies for payments with foreign counterparties, Vedomosti revealed. The news comes after the Interfax news agency reported earlier that the finance ministry isthis option as Russia’s access to the traditional payment channels is limited by western sanctions imposed over the war in Ukraine.
Among the other proposals incorporated in the revised bill is a ban on the advertising of crypto trading platforms that are not licensed to operate in Russia. At the same time, authorized exchanges may be obliged to store information about cryptocurrency holders and their transactions for a period of three years and share the data with Russian law enforcement.
As always. If you want to work in the Russian market you need to leak information to the government.
I hope Russians consider using USDT as payment. The most stable coin.
GamingShibaBSC
Not good
I have mixed feelings about the 'evil empire' using crypto assets for international settlements, but then they're certainly free to do so if these wish.
BabyapeOff
ben neden yaptım
You have proven to me that you are genuine and i can trust you with my last dime protraderjason thanks for the payouts
Russian residents can save their cash in encrypted wallets.
Petro dollar be like
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