Cryptocurrency in Russia may be allowed as a contractual means of payment

State Duma deputies are considering the possibility of legalizing Cryptocurrency in Russia Federation, subject to the conclusion of contracts

Cryptocurrency payments in the territory of the Russian Federation may be legalized in the framework of 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 a treaty.

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

Recall, according to the law “On digital financial assets,” payments in cryptocurrencies on the territory of the Russian Federation are prohibited. However, according to Krasheninnikov, deputies of the State Duma can make amendments if payments are contractual in nature. At the same time, the deputies intend to classify digital currencies as property, not securities.

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 of investing in digital currencies back in 2020. However, the results of the testing were not disclosed.

Recall, the head of the State Duma Committee on the financial market Anatoly Aksakov also advocated for the clarification of the term “digital currency”. In his opinion, this is necessary to avoid legal conflicts in the launch of the digital ruble.

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