Russia’s Federal Tax Service (FTS) joins the debate about crypto regulation in Russia and explores allowing Russian companies to use digital currencies as a payment method.
- FTS let its official feedback on the drafting of the cryptocurrency bill prepared by the Ministry of Finance.
- The ministry proposed to allow Russian firms to use cryptocurrency for certain operations, allowing firms to pay for goods and services and receive revenue from foreign entities in digital currency.
- The program could alter the purpose of the proposed framework, which initially excluded any other role for digital currencies in the investment assets.
- The current draft comprises a clause where the ban on using cryptocurrency as a payment method is in effect in all situations where this law does not specify otherwise.
The FTS proposed to address this reservation by diversifying payment options available to Russian firms engaged in international trade amid severe financial sanctions adopted on the country.
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