Russia Opens Doors to International Crypto Transactions
Russia's Central Bank has announced that Russians will be able to transfer cryptocurrency abroad starting September 1. This move comes after President Vladimir Putin signed a law establishing a legal framework for cryptocurrency circulation in Russia.
The new law recognizes digital currencies as property and sets general requirements for their circulation, providing judicial protection for cryptocurrency rights. Qualified and non-qualified investors will be able to acquire cryptocurrencies and stablecoins, subject to established requirements, and transfer such assets abroad to their own wallets or foreign merchant accounts.
The regulation also allows foreign trade participants to make payments in cryptocurrencies and stablecoins under foreign trade agreements. Transactions will be subject to standard currency control mechanisms and procedures under anti-money laundering legislation.