The Russian State Duma introduced a law legalizing anonymous wallets

State Duma deputies are considering a new bill that would allow private individuals to use anonymousdigital wallets.

Anonymous wallets for individuals only

Chairman of the Duma Committee on Financialmarket Anatoly Aksakov together with a group of deputies from different factions submitted a new bill for consideration, which will actually legalize the use of anonymous wallets to transfer funds between individuals.

New bill should eliminate contradictionsbetween the articles of the law "On the national payment system". If the proposed document is adopted by the State Duma, then the Russians will be able to freely transfer money from the “non-personalized electronic means of payment” to the accounts of other individuals and legal entities.

However, parliamentarians note that this lawwill apply only to electronic payment services such as Yandex.Money, QIWI-Wallet, WebMoney and PayPal and others similar. This initiative does not apply to cryptocurrency, since it is not recognized as a means of payment, reports RBC.

Let us remind you that in August of this yearIn 2019, the government decided to prohibit the accumulation of deposits on electronic wallets, as well as using them to transfer funds. This decision has baffled more than 10 million people who regularly used e-wallets for digital payments.

This law does not apply to crypto wallets

The new bill will not affectthe use of cryptocurrencies in Russia, experts say. Bitcoin and other crypto coins are still not recognized as a means of payment, so the use of crypto wallets is not regulated in any way by law. However, Russia entered the top 15 countries by the number of cryptocurrency holders.

Most often, Russians store their coins on crypto-exchange wallets or cold wallets, which protect the holder's funds from remote hacker attacks.