CRYPTOCURRENCY TRANSACTIONS WERE PROHIBITED IN RUSSIA

The State Duma adopted a draft law defining the status of cryptocurrency in the second reading.

The document delimits the concept of "digital currency", which includes both cryptocurrency and "digital financial assets".

When it comes to the digital currency, it has been established that it cannot be used as a payment system on the territory of Russia, while the possibility of imposing a penalty on it remains, which means that it is still considered as a property.

The draft law additionally contains a prohibition on the dissemination of information on the acquisition or sale of digital currency as a means of payment.

However, in this case, the norm applies only to the crypto exchanges operating in national domain zones located in Russia.

Commenting on the situation with cryptocurrency in the Russian Federation, the head of the legal department of the Central Bank indicated that the aquisition of the cryptocurrency would be allowed only if it was issued on the foreign platforms; in Russia its release would be banned.

It is possible that a separate law regulating relations related to the cryptocurrency will be adopted by this fall. It was previously announced by Anatoly Aksakov, who is the Chairman of the Financial Market Committee of the State Duma of the Russian Federation.