Moscow is considering legalizing cryptocurrencies

RAccording to information from the State Duma, ussland intends to do so in the coming year cryptocurrencies legalize – above all to mitigate the consequences of western sanctions. “(The cryptocurrency) can be used well in international payment transactions,” said the head of the finance committee in the Duma, Anatoly Aksakov, according to the daily newspaper “Kommersant” on Monday.

The point is to legally secure their use in order to secure the “parallel import”. The Russian authorities describe the import of goods without the express permission of the manufacturer as parallel import.

So far, its use has been banned in Russia

So far, the use of cryptocurrencies is in Russia forbidden. The central bank was very skeptical about the phenomenon for years. In September, however, Prime Minister Mikhail Mishustin indicated a change of heart. He announced that the competent authorities would agree on a uniform position by the end of the year.

Western sanctions ban numerous products from entering Russia. In addition to armaments, these are mainly high-tech goods and components for the electronics industry such as semiconductor chips, but also machines and systems. Russia is trying to get some of these goods from third countries.