Putin Signs Law Prohibiting Payments With Digital Assets in Russia – Regulation Bitcoin News
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Russian President Vladimir Putin has signed into law a bill banning payments with digital assets. The legislation obliges exchange operators to refuse to process transactions facilitating the use of DFAs as “monetary surrogates” The ban applies to utilitarian digital rights (UDRs) as well. Russia is yet to comprehensively regulate cryptocurrencies, but the law “On Digital Financial Assets,” which went into force in January 2021, introduced the two legal terms. Russian officials have in the past indicated that DFA encompasses cryptocurrencies while UDR applies to various tokens. The new legislation will enter into force 10 days after its publication in Russia’s government gazette. It leaves the door open for cases of DFA payments envisaged in other federal laws. Source