Russia Eases Cryptocurrency Restrictions for International Transactions
Starting September 1, individuals and companies in Russia will be able to conduct international transactions using cryptocurrency. According to Alexey Korolenko, Executive Director of Cifra Markets, this means that people can transfer funds from one foreign wallet to another or use cryptocurrency to pay for goods and services abroad.
The main restriction remains: within the Russian Federation, payments with cryptocurrency will still not be allowed. This is only applicable to foreign economic activity, which includes transfers between individuals, individual entrepreneurs, and legal entities.
For unqualified investors, a test will be required before they can purchase cryptocurrencies such as Bitcoin, Ethereum, or Tether USDT. A limit of 300,000 rubles per year has been proposed for each intermediary, including brokers and crypto exchangers. However, this restriction does not apply to international transactions.
Qualified investors will have broader access to cryptocurrency markets, but the Central Bank may restrict certain types of assets, such as anonymous coins. The exchange of cryptocurrency for securities is explicitly prohibited by law.