Russia proposes to punish crypto payments

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The head of the State Duma Committee on the Financial Market, Anatoly Aksakov, proposed to legally ban the use of cryptocurrencies as a means of payment in Russia and hold accountable for settlements in them. This is reported TASS.

According to Aksakov, the ban is necessary to protect non-professional investors.

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“The number of people involved in cryptocurrencies is quite large. Unfortunately, many inexperienced people fall into these networks, so we need to regulate all processes,” he explained.

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Along with a strict ban on bitcoin payments, the official considers it possible to allow cross-border transactions in cryptocurrencies. In particular, payment for the supply of goods to Russia.

Aksakov added that the details of the legal regulation of the crypto market are currently being discussed.

The Government of the Russian Federation, by December 19, instructed to prepare proposals agreed with the Central Bank on the development of cryptocurrencies and the digital ruble.

Earlier, the Ministry of Finance of the Russian Federation announced plans to allow international bitcoin payments for any industry without restrictions.

Against the backdrop of tougher sanctions, Russian companies have partially switched to settlements in cryptocurrencies, although the regulation of such transactions has not yet been spelled out.

In February, the Ministry of Finance of the Russian Federation introduced a draft law “On digital currency”, which prohibits the use of this financial instrument as a means of payment in the country.

At the same time, the Central Bank of the Russian Federation prepared draft laws banning bitcoin and fines up to 1 million rubles.

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Source: Cryptocurrency

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