Cryptocurrency may be allowed as a contractual means of payment in the Russian Federation

State Duma deputies are considering the possibility of legalizing payments in cryptocurrency on the territory of the Russian Federation, subject to the conclusion of contracts

Payments in cryptocurrency on the territory of the Russian Federation can be legalized under a contractual agreement. This was hinted at by the chairman of the Duma Committee on Legislation, Pavel Krasheninnikov, writes Interfax. According to him, the State Duma is already talking about legalizing cryptocurrency payments, if they take place within the framework of the contract.

“We believe that it is necessary to make amendments to the Civil Code, now we have a corresponding approval procedure, but there is an understanding that so far they have called it digital monetary units, it is, of course, not a legal means of payment, but this means of payment, quite possibly, can be contractual, as a contractual means of payment,” he said.

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Recall that according to the law “On Digital Financial Assets”, payments in cryptocurrencies are prohibited on the territory of the Russian Federation. However, according to Krasheninnikov, State Duma deputies can make edits if the payments are contractual in nature. At the same time, the deputies intend to classify digital currencies as property, and not a security.

See also: The Bank of Russia explained its position on the issue of digital currency turnover

Previously, the Bank of Russia opposed cryptocurrency payments even within the framework of contracts. As previously reported by the editorial board of BeInCrypto, the Central Bank tested the service for investing in digital currencies back in 2020. However, the test results are not disclosed.

Recall that the head of the State Duma Committee on the financial Market Anatoly Aksakov also spoke for clarifying the term “digital currency”. In his opinion, this is necessary to avoid a legal conflict when launching the digital ruble.

Read about what the ban on cryptocurrency trading for unskilled traders in Hong Kong will lead to in the editorial material.

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