Coronavirus has reportedly delayed the enforcement of new Russian law banning crypto as means of payment

posted 2 months ago
The unexpected COVID-19 outbreak was cited as the reason for the delay of enacting Russia’s legislation “On Digital Financial Assets.” The law is completed but not yet enforced, the new law will define cryptocurrency usage in the country, banning them from being used as a means of payment.

Anatoly Aksakov, head of the Duma committee on the financial markets, said “We came to the conclusion that it is necessary to define these tools but to prohibit their use as a means of payment.” He went on to say that the law will regulate but not interfere with cryptocurrency exchanges, as long as they “do not violate it.”
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