Search
Russian State Duma Adopts Law Banning Payments With Digital Financial Assets
7.7.2022
The lower house of Russian parliament has adopted a law prohibiting the use of digital financial assets in payments. To implement the restriction, exchange operators have been obliged to reject transactions which make it possible to employ these assets as a means of payment. Russian Parliament...
Russian Parliament Adopts Tax Rules for Digital Assets
29.6.2022
Russian lawmakers have approved amendments regulating the taxation of transactions with digital assets. The legislation concerns business operations with cryptocurrencies and tokens. In some cases, the burden for Russian companies will be reduced as compared to foreign entities. Russian Duma Passes...
Russian Parliament to Review Bill Prohibiting Crypto Payments
13.6.2022
Legislation making it illegal to pay with cryptocurrencies has been filed with the State Duma, the lower house of Russia’s parliament. The sponsors of the bill want to task crypto platforms to prevent transactions that could facilitate payments with digital assets. Draft Law Banning Use...
Tough Crypto Law Expected in Russia Despite Central Bank’s Softer Stance on Crypto Payments
2.6.2022
The bill “On Digital Currency,” meant to comprehensively regulate crypto transactions in Russia, will be a “tough” law, according to the head of the State Duma Financial Market Committee. The legislation is yet to be finalized and will not be reviewed by lawmakers in...
No Tax Amnesty for Russian Crypto Miners as Lawmakers Withdraw Proposal
26.5.2022
A new draft law has replaced an earlier bill introducing a one-year tax and customs amnesty for cryptocurrency miners in Russia. The initial proposal has been withdrawn on the grounds that the tax break would have resulted in losses for the state budget. Revised Crypto Mining Legislation Submitted...
Draft Law About NFTs Submitted to Russian Parliament
21.5.2022
Lawmakers have filed a bill with the State Duma aimed at introducing the term NFTs to Russian legislation. The authors of the draft say the rights of those who own non-fungible tokens need to be protected as Russians are currently dealing with NFTs at their own risk. Russian Deputies Propose...
Trade Minister Expects Russia to Legalize Cryptocurrency
19.5.2022
Cryptocurrencies will be eventually legalized, a member of the Russian government has opined. The question is when this will happen, Trade Minister Denis Manturov stated as new crypto-related legislation advanced in the State Duma this week. Crypto Legalization Is Current Trend, Russian Minister...
Russia’s First Digital Financial Assets Expected This Year, Lawmaker Says
18.5.2022
The first digital financial assets based on Russian blockchains may be issued as early as this year, a high-ranking parliamentarian announced. Three platforms are already registered as issuers, said Anatoly Aksakov, who chairs the Financial Market Committee at the State Duma, the lower house...
Bill Regulating Crypto Mining Submitted to Russian Parliament
30.4.2022
A draft law tailored to regulate cryptocurrency mining has been filed with the lower house of Russian parliament, the State Duma. The legislation provides a legal definition for the extraction of digital currencies and envisages the establishment of a register for miners. Russian Lawmakers...
Illegal Use of Cryptocurrency Largely a Myth, Russian Lawmaker Says
30.4.2022
Only a small share of cryptocurrency transactions have illicit purposes and the use of digital coins in illegal activities is for the most part a myth, a high-ranking Russian lawmaker has recently stated. Andrey Lugovoy, who is one of the deputies working on new crypto regulations, also said Russia...
Russian Law Enforcement Submits Proposals to Regulate Seizure of Crypto Assets, Data Sharing
28.4.2022
Russian Ministry of Finance has accepted a number of crypto regulatory proposals submitted by the country’s law enforcement departments. They cover a range of related areas, including the seizure of digital assets and the reporting of information on cryptocurrency transactions. Finance...
Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament
17.4.2022
A bill updating Russia’s tax law to incorporate provisions pertaining to cryptocurrencies has been filed with the State Duma, the lower house of parliament. The legislation is tailored to regulate the taxation of sales and profits in the country’s market for digital assets. Russian...
Bank of Russia Rejects Idea of Using Cryptocurrency to Circumvent Sanctions
7.4.2022
The Central Bank of Russia has turned down a proposal to allow the use of digital currencies for the purpose of sanctions evasion. The monetary authority believes this is hardly an option as Western regulators are already taking steps to prevent such transactions. Employing Bitcoin to Evade...
Russian Prime Minister, Economy Ministry Support Legalization of Cryptocurrencies
27.3.2022
Prime Minister Mikhail Mishustin and the Russian Ministry of Economic Development have backed efforts to regulate cryptocurrencies and integrate them into the country’s economy. The support comes amid mounting sanctions over the war in Ukraine which restrict Russia’s access to global...
Russian Law Requires Election Candidates to Disclose Their Crypto Assets
24.3.2022
The Russian parliament has adopted a new law obliging persons running for office to present information about their digital asset holdings. The legislation will amend a number of acts and apply to presidential and parliamentary candidates as well as government officials. Russian Politicians...
Idea to Use Digital Ruble as Reserve Currency Circulated in Sanctioned Russia
20.3.2022
A call to make the digital ruble a reserve currency has been issued in the State Duma, the lower house of Russia’s parliament. Meanwhile, concerns have been raised in the West that the new incarnation of the Russian fiat may be employed to evade sanctions that have been isolating...
Crypto Assets Can Help Russia Return to Global Financial Market, Lawmaker Says
17.3.2022
Digital financial assets like cryptocurrencies can help Russia to reach the global financial market despite western sanctions, a lawmaker working on crypto regulations has stated. The official believes the country is capable of setting up domestic crypto exchanges and should support mining. Russia...
Russia Proceeds With Efforts to Legalize Crypto Amid Sanctions Over Ukraine
5.3.2022
Authorities in Russia are continuing their work to establish a comprehensive legal framework for crypto transactions. The efforts, which started before the military invasion of Ukraine, go on amid warnings that Moscow may use cryptocurrencies to evade expanding financial sanctions. Expert Council...
Russia Adopts Law Allowing State to Seize Illegal Funds, Digital Assets From Officials
18.2.2022
The State Duma of Russia, the lower house of parliament, has passed a law permitting law enforcement authorities to seek confiscation of illegally obtained funds from government officials, including cryptocurrency. The state may attempt to seize the assets through court if they exceed...
Crypto Ban Proposed by Bank of Russia Met With Opposition in Parliament, Government
25.1.2022
The central bank’s push for a restrictive policy regarding cryptocurrencies is not gaining support among members of the Russian government, legislature, or law enforcement. A blanket crypto ban, as proposed by the bank, would make a laughingstock of Russia, lawmakers have warned. Bank...