November 27, 2022

Media: Russia will prohibit paying with bitcoins

 Media: Russia will prohibit paying with bitcoins

The Russian authorities are concerned about the criminal component of the digital assets sector and are preparing to ban payment for goods with cryptocurrency.

Now in the Russian Federation there is no legislative norm regarding payments for goods and services with digital money, but, according to Russian media reports, the Central Bank and Rosfinmonitoring are preparing such a ban.

Offers developed by agencies will introduceprohibition of payment for purchases and services with cryptocurrency. They are supported by the Ministry of Finance, which refuses to recognize digital currencies as a means of payment. In their opinion, private cryptocurrencies cannot be considered a legal payment method in the country. Russian regulators are sure that cryptocurrency is used to conceal income, money laundering, terrorist financing and other illegal actions.

Despite statements by the Central Bank of Russia thatcryptocurrencies do not pose a global threat to the country's financial stability, the regulator is trying to limit and completely control the circulation of digital assets.

Head of the CBR Elvira Nabiullina sequentiallyHe opposes the recognition of crypto assets as a currency and against their inclusion in the financial infrastructure of the country. Deputy Finance Minister Alexei Moiseev is also confident that Russia will never legitimize cryptocurrency for settlements.

This year, the law on the crypto industry will most likely not be adopted and will be replenished with new prohibitions, limits and restrictions for the next review.