Market news | Cryptocurrency will be prohibited from being used to pay for goods and services in the Russian Federation; transactions with cryptocurrency can be challenged, subject to their declaration – bill

The draft law "On Digital Financial Assets, Digital Currency", prepared for the second reading in the State Duma,defines digital currency as a collectionelectronic data (digital code or designation) contained in the information system, which are offered and (or) can be accepted as a means of payment that is not a monetary unit of the Russian Federation, a monetary unit of a foreign state and (or) an international monetary or unit of account, and ( or) as an investment and in respect of which there is no person liable to each owner of such electronic data.

At the same time, companies and individuals are prohibited from accepting digital currency as payment for goods and services.

Russian citizens and companies will be able to challenge transactions with cryptocurrencies in court only if they have been declared in Russia.

"The requirements of the persons specified in part 5 of thisarticles related to the possession of digital currency are subject to judicial protection only if they inform about the facts of possession of digital currency and the performance of civil transactions and (or) operations with digital currency in the manner prescribed by the legislation of the Russian Federation on taxes and fees "

source
source