An experimental legal regime (EPR) has started operating in Russia, which allows foreign trade contracts to be paid for with cryptocurrencies. At the same time, a focus group was created to participate in the experiment. Vedomosti writes about this, referring to interlocutors familiar with the work of the group.
Author:
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The group itself consists of individual importers from the Russian Chamber of Commerce and Industry (CCI) and the Association of Developers and Manufacturers of Electronics (ARPE), as well as representatives of some banks.
The source of the publication noted that it contains those importers who find it more difficult to work due to problems with payments to banks in China and other countries, since the goods they need belong to the dual-use category (in theory, they can be used not only for peaceful but also for military purposes).
When forming the focus group, we also took into account the turnover: the larger it is, the greater the chances of the company participating in the experiment. Later, they plan to involve more participants in the work within the framework of the EPR, but there is no information yet on when exactly the experiment will be expanded.
The changes, which came into effect on September 1, allow cryptocurrency trading under the control of the Bank of Russia. According to the chairman of the State Duma Financial Market Committee Anatoly Aksakov, the regulation of all aspects of the EPR will be completed by November. This regime will allow importers to pay invoices without the need to withdraw funds outside Russia.
There are also some concerns regarding the effectiveness of the EPR. For example, potential risks associated with sanctions evasion and data protection. Therefore, stricter regulation and operational transparency are needed to prevent unfair use of cryptocurrencies. This regime also makes working with cryptocurrencies easier, as it legalizes them and simplifies payments.
In August, Russian President Vladimir Putin signed a law legalizing cryptocurrency mining. It will come into force on November 1, 2024: the document legally allows individual entrepreneurs, legal entities and individuals to mine cryptocurrency in the country.
Author:
Nikolai Tikhonov
Source: RB
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