October 19, 2021

Russia has no plans to introduce a complete ban on cryptocurrencies

Russia has no plans to introduce a complete ban on cryptocurrencies

According to Deputy Finance Minister Alexei Moiseev, Russia has no plans to introduce new restrictions or a ban on cryptocurrency transactions.

In an interview with Interfax, he said that now atOnly settlements in this form are prohibited on the territory of the country, but citizens can buy digital assets and use crypto wallets abroad. He added that, most likely, everything will remain so, since Russia does not plan to follow in the footsteps of China.

On Tuesday, during a lecture at MGIMO, Alexei Moiseev once again drew attention to the firmness of the position states in relation to cryptocurrency payments.Russia will not approve of this form of payment due to the threat to financial sovereignty. According to him, the countries that decided to take such a step have already faced a partial refusal of business from national currencies.

The Deputy Minister of Finance also believes that the Civil Code and relevant laws need to be finalized by adding definitions of new financial terms, such as digital currency.

At the same time, Russia is actively developing the digital ruble, and from next year, as part of the testing program, the Federal Treasury can start collecting taxes from citizens of the Russian Federation with its help.

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