The Bank of Russia plans to extend currency control to transactions with digital financial assets (DFAs) and utilitarian digital rights (DPR). The draft instructions of the chief financial regulator are currently being finalized, Vedomosti learned.

According to the draft document, the Central Bank proposes to oblige both tax residents of the Russian Federation and non-residents to register trade agreements with an authorized bank, the settlement of which is carried out using DFA or DRM.

The threshold value for providing data, as for transactions with traditional currencies, will be from 3 million rubles for import trade contracts and from 10 million rubles for export contracts.

In addition, the draft document provides for the introduction of new codes for currency transactions related to the acquisition of digital rights for rubles or foreign currency.

The provisions of the draft apply to authorized banks (their branches) and exporters-importers. An exception will be foreign exchange transactions of individuals.

Earlier, Deputy Chairman of the Board of Sberbank Anatoly Popov said that cryptocurrencies are better suited for cross-border payments than Russian digital assets (DFAs) issued with state support.