August 4, 2020

Putin forbade to pay with cryptocurrency

The President signed a law that defines bitcoin and other digital assets, but prohibitsTheir use as a means of payment in the country.

Russian President Vladimir Putin signed the law “Ondigital financial assets ”, which defines bitcoin and other cryptocurrencies and prohibits their use in the country as a means of payment. The corresponding document was published on the official Internet portal of legal information, the rules will come into force on January 1, 2021.

According to the document, the cryptocurrency will be possible in the is also legal to buy, sell and make other transactions with it.regulate mining, the organization of the issuance and circulation of digital currency.

July 24 Head of the State Duma Committee on the Financial MarketAnatoly Aksakov said that large Russian commodity companies are planning to start producing stablecoins. The first tokens, the rate of which is tied to the quotes of various assets, will be presented in the first half of 2021.