Russians Get Green Light to Use Cryptocurrency Abroad from September

Russia's Central Bank has announced that from September 1, Russians will be able to transfer cryptocurrency abroad to their own wallets or foreign merchant accounts to pay for goods and services.

This change comes after President Vladimir Putin signed a law establishing a legal framework for cryptocurrency circulation in Russia on August 5.

The new law recognises digital currencies as property, sets general requirements for their circulation, and provides judicial protection for cryptocurrency rights.

Cryptocurrency holders will be able to acquire cryptocurrencies and stablecoins, transfer such assets abroad, and use them to pay for goods and services purchased from non-residents.