Holpop News

Russia’s Federal Tax Service (FTS) joined the discussion on the regulation of cryptocurrency in Russia with an unexpectedly drastic proposal – to allow Russian companies to use digital currencies as a payment method for international transactions.
On April 20, the newspaper Izvestia reported that the Federal Tax Service left its official review of the draft law on cryptocurrency prepared by the Ministry of Finance. The regulator proposed to allow Russian companies to use cryptocurrency for certain transactions.
“Allow legal entities to pay for goods and services under foreign trade contracts and receive proceeds from foreign persons in digital currency”- the document says.
As noted by “Izvestia”, the current draft has a clause according to which the ban on the use of cryptocurrency as a means of payment applies “in all cases where this law does not specify otherwise.”
For its part, the regulator suggested acting on this clause in order to diversify the payment methods available to Russian companies engaged in international trade amid the harsh financial sanctions imposed on the country.
It is also reported that the Federal Tax Service clarified that companies will have to buy and sell digital currencies through regulated cryptocurrencies and exchange platforms.