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Russian Authorities Clarify that Cryptocurrencies May Be "Contractual Means" of Conducting Payments

May 24, 2021 @ 9:43 pm By Omar Faridi
The State Duma has recently acknowledged that amendments to the Civil Code (in Russia) that cryptocurrencies (or “digital monetary units”) may be considered “a contractual means” of conducting payments in the country, according to
Pavel Krasheninnikov, Chairperson of the
Duma Committee on Legislation, at the
St. Petersburg Legal Forum.
Krasheninnikov stated:
“We believe that it is necessary to make amendments to the Civil Code, now we are in the process of an appropriate approval procedure, but there is an understanding that so far they have called it so – digital monetary units, it is, of course, not a legal means of payment, but this means of payment is quite possible , can be contractual, as a contractual means of payment.” ....

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Russian Lawmakers Move to Allow Crypto Payments Under Contracts – Regulation Bitcoin News

Russian Lawmakers Move to Allow Crypto Payments Under Contracts
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: ....

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