Over there Russia passed a new law that in effect prohibits the use of cryptocurrencies – but also tokens such as NFTs – as a means of payment to buy goods and services. The law says nothing about the possibility of owning and investing in cryptocurrencies, which should therefore be considered two legitimate activities even under the new regime.

The standard is a compromise. A few months ago, the president of the Central Bank of Russia had proposed to completely ban all activities related to cryptocurrencies, including investments. Instead, the rule signed by Vladimir Putin explicitly mentions cryptocurrency exchanges, which can continue to operate undisturbed and accept payments in cryptocurrencies or fiat currencies.

It is prohibited to transfer or accept digital financial assets in consideration for the transfer of goods, works or services. The law prohibits any means of obtaining payment for goods and services through digital financial assets, except in cases expressly permitted by federal laws

reads the new law.

But maybe that’s just the beginning. A week ago, Rosfinmonitoring, the Russian equivalent of our Consob, had expressed an interest in regulating investments in cryptocurrencies as well. Not only that, the authority also proposed to strengthen oversight of cryptocurrency transactions and, among other things, intervene in the phenomenon of clandestine casinos operating abroad using cryptocurrency payments. The Rosfin monitoring he also called for the approval of a new law regulating cryptocurrency mining in Russia.

Source: Lega Nerd

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