Russian tax authority proposes using crypto as a foreign trade payment tool
The Ministry of Finance “partially supported” the proposition, adding that it needs further consideration. Russia's Federal Tax Service (FTS) has joined the debate around crypto regulation in Russia with an unexpectedly blunt proposition — to let Russian companies use digital currencies as a payment method when transacting internationally.On April 20, local newspaper Izvestia reported that the FTS left its official feedback on the draft of the crypto bill prepared by the Ministry of Finance. In its remarks, the fiscal agency proposed to let Russian companies use crypto for certain....
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Russia’s Federal Tax Service proposed a change to the “On Digital Currency” legislation allowing entities to accept bitcoin as payment in foreign trade.
Russian Prime Minister Mikhail Mishustin has praised digital assets as a payment instrument that could strengthen Russia’s financial independence. The top government official also called for increasing the use of the ruble for international settlements. Head of Russian Government Sees Digital Assets as Tool Ensuring ‘Uninterrupted Payments’ Digital assets can become an alternative to traditional settlements and facilitate payments for imports and exports, the prime minister of Russia has recently remarked. Quoted by RBC Crypto news outlet, Mikhail Mishustin made the....
One of the largest news agencies in Russia, RIA Novosti, reportedtoday that the Russian Finance Ministry is preparing a bill to prohibit cryptocurrencies. “The Ministry proposes to establish a ban on the issue of money substitutes, including in electronic form. Also proposes to clarify the provisions of the law on the Central Bank of the Russian Federation, extending the ban not only on the issue of money substitutes, but also to conduct operations with them,” according to RIA Novosti, and translated by Google. “Among the possible limitations – a ban on the use of surrogates as a means of....
A top Russian central bank official said at a press conference that the monetary authority will permit foreign trade with crypto. First deputy governor of the Russian central bank Ksenia Yudayeva stated Tuesday that the bank is open to using cryptocurrency for international payments, Reuters reported, along with Russian media, which added that the bank was reconsidering its position on crypto mining as well. Yudaeva was quoted as saying:“We have changed our position on mining, and also permit the use of cryptocurrency in foreign trade and outside the country,” The bank official’s....
Foreign nationals should be able to buy Russia’s upcoming digital ruble through entry points providing anonymity, according to a high-ranking member of the Russian parliament. The idea circulated in Moscow aims to protect these investors from Western sanctions.
State Duma Deputy Proposes Anonymous Digital Ruble Purchases to Avoid Sanctions
Foreign investors should be provided with an option to anonymously acquire the Russian central bank digital currency (CBDC), in order to minimize the risk of falling under sanctions, the head of the State Duma Committee on Industry....