Members of the State Duma are now working on amendments that will permit the use of cryptocurrency as a contractual means of payment. Digital financial assets are regarded as property under Russian law and the changes will legalize crypto payments between parties to a contract.
State Duma to Amend Civil Code to Legalize Contractual Crypto Payments
The lower house of Russia’s parliament, the Duma, is gearing up to remove barriers to using cryptocurrencies in contract payments. The proposals are subject to an ongoing review but according to the chairman of the Committee on Legislation, Pavel Krasheninnikov, there is consensus on the matter. Speaking at the St. Petersburg Legal Forum, the lawmaker stated:
We believe that it is necessary to make amendments to the Civil Code. Now we are in the appropriate approval procedure but there is an understanding that digital monetary units, as they have been called, can be a contractual means of payment.
Krasheninnikov noted that while cryptocurr
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