According to the head of the Duma Committee on Financial Markets, such use of digital assets may be allowed in a foreign jurisdiction

Deputy Aksakov calls to prosecute for settlements in cryptocurrency within Russia

05.10.2022 - 13:00

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2 min

What’s new? The head of the State Duma Committee on Financial Market Anatoly Aksakov believes it is necessary to introduce a ban on the use of digital financial assets (DFAs) as a means of payment in Russia. He suggested that people who use cryptocurrencies for payments inside the country should be prosecuted. Aksakov made such a statement at the VII International Conference on Consumer Financial Protection, TASS writes.

TASS material

What else did Aksakov say? The deputy noted that “quite a large number of people are engaged in digital assets,” and the processes in the cryptocurrency industry need to be regulated, because often “inexperienced people get caught in these nets.”

Aksakov believes that it is possible to allow the use of digital assets as a means of payment in a foreign jurisdiction, for example, to pay for the delivery of goods to Russia. The official expressed the hope that this issue will be legislated in the near future.

In July, Russian President Vladimir Putin signed a law banning payment for services, goods and works with digital financial assets. The head of the Central Bank Elvira Nabiullina noted that cryptocurrencies should not penetrate the domestic financial system of the country.

In early October, it became known that the Central Bank and the Ministry of Finance will allow international settlements in cryptocurrencies for all industries. The Ministry noted the need to use alternatives to the US dollar and the SWIFT system. Earlier Aksakov said that Russia plans to use the state cryptocurrency in international settlements with China.

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