Russia limits crypto to investment, rules out payments
Crypto Briefing
Russia permits cryptocurrency investment but strictly prohibits its use for paying for goods and services.Summary
Russia's regulatory stance on digital assets permits their use strictly as investment tools, while maintaining a firm prohibition against using cryptocurrencies like Bitcoin and Ethereum for payments for goods and services. Anatoly Aksakov, Chairman of the State Duma Committee on Financial Markets, confirmed this limitation, noting that under Russian Law on Digital Financial Assets, cryptocurrencies are classified as property that can be owned and traded but not used as legal tender. Furthermore, the Bank of Russia is considering proposals to expand access to crypto for high-income investors, including new thresholds and trading regulations.
(Source：Crypto Briefing)