March 29, 2024

Market News | The Federal Tax Service proposes to allow the use of cryptocurrency in foreign trade settlements - Izvestia

Russian companies may be allowed to make payments for export-import transactions in cryptocurrency. Buy andyou can sell it to make similar transactionswill only be on crypto exchanges. The Federal Tax Service came up with a corresponding initiative; it is stated in the comments to the Ministry of Finance bill “On Digital Currency” (available from Izvestia).

The Ministry of Finance partially supported the idea, pointing out that it requires elaboration, discussion and, possibly, legislative regulation.

The implementation of the initiative may intensify trade with Russia-friendly countries in which cryptocurrencies are recognized as legal tender, experts say.

Payment visibility: authorities discuss the legalization of cryptocurrency in foreign trade | Articles | News (iz.ru)