The head of the State Duma finance committee reportedly said Russia will legalize the use of cryptocurrency for international trade in January 2023.
Russia’s Congressional finance committee chairman, Anatoly Aksakov, said the country is moving to greenlight international trade in cryptocurrency within the next month, according to a report by national news agency TASS.
“In January, we want to legalize cryptocurrencies to ensure foreign trade activities,” Aksakov said, per a translated version of the report.
The chairman highlighted that although Russia is taking steps to allow bitcoin and cryptocurrency payments for imports, there are no plans to encourage similar usage of the burgeoning assets within the boundaries of the nation’s territory.
“The circulation of cryptocurrencies as a means of payment on the territory of Russia will be prohibited, and liability will be prescribed in this regard,” he reportedly stated. “But to pay for foreign trade transactions, we still assume the p
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