The State Duma proposed to ban internal payments in cryptocurrency

The head of the State Duma Committee on the financial market, Anatoly Aksakov, believes that the use of cryptocurrency as a means of payment in Russia should be criminalized. At the same time, he considers it acceptable to use it for international payments.

Anatoly Aksakov noted that the number of individuals involved in cryptocurrency in Russia is “quite large.” “Therefore, we need to regulate all processes. First, to strictly prohibit the use of cryptocurrency as a means of payment on the territory of Russia and hold accountable for it,” said Mr. Aksakov at an international conference on the protection of the rights of consumers of financial services (quoted by TASS).

“But at the same time, give the opportunity to work in a transcendent jurisdiction, if there is such an opportunity, including paying for the supply of goods to Russia, why not,” he added.

At the beginning of the year, the Central Bank called for a ban on the issuance of cryptocurrencies in Russia, as well as their use as investments. However, in February, the Ministry of Finance submitted to the government a bill on the regulation of cryptocurrencies, which prohibits their use as a means of payment in Russia, but allows their use as an instrument for investment.

On September 22, it became known that the Ministry of Finance and the Central Bank agreed on a bill allowing cross-border settlements in cryptocurrency. According to officials, such measures should help Russia overcome the sanctions. According to the experts interviewed by Kommersant, against the background of the departure of citizens from Russia after the announcement of a partial operation, interest in buying cryptocurrencies and crypto wallets has grown.

Prime Minister Mikhail Mishustin instructed the Bank of Russia and the Ministry of Finance to agree on a position on digital currencies and mining, as well as the use of cryptocurrencies for international settlements, by December 19.

For more information about the growing interest in cryptocurrencies among Russians, see the article With wallets to go.

Anastasia Larina


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