Russian President Vladimir Putin has signed a bill into law making crypto payments illegal, reaffirming the ruble as the only accepted monetary unit in the Russian Federation.
Domestic Crypto Payments Banned
Russia has made crypto payments illegal.
According to the Russian legislative support system website, a federal law preventing the use of digital financial assets as a means of payment was signed into law yesterday by Russian President Vladimir Putin.
Under the new law, digital assets and digital rights are no longer accepted as “monetary surrogates” and therefore cannot be accepted as payments for goods and services. Other monetary units are also banned, reaffirming the ruble’s place as the only officially accepted currency within the Russian Federation.
Compliance will be ensured by holding exchange operators and businesses liable for any violation. Under Russian law such operators are considered “subjects of the national payment system” and must comply with regulations that,...
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