Crypto: Putin has banned payments with cryptocurrency


Putin has banned payments with cryptocurrency

Russian President Vladimir Putin signed the law "On digital financial assets", which defines bitcoin and other cryptocurrencies and bans their use in the country as a means of payment. Corresponding documents were published on the official Internet portal for legal information, the rules will enter into force on 1 January 2021.

The law was adopted by the State Duma at third reading on July 22. According to the document, it will be possible to legally buy, sell and make other transactions with it in the country. The law also contains a reference to separate documents that regulate mining, organization of issuance and circulation of digital currency.

On July 24, Anatoly Aksakov, head of the State Duma Committee on Financial Markets, announced that large Russian commodity companies are planning to start producing stack coins. The first symbols, the price of which is linked to the quotations for different assets, will be presented during the first half of 2021.

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