Russia Plans to Introduce Cryptos into the Country’s Civil Code

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According to Ivan Chebeskov, director of the Financial Stability Department of the Ministry of Finance, Russia has recently proposed to legalize cross-border crypto transactions in 2023, however, this will require changes in the Civil Code.

He has said that in order to make international payments in digital currency, it must be legally recognized as property. The authorities are currently discussing possible legislative initiatives.

Another important issue is the taxation of cryptocurrencies. The head of the Federal Tax Service, Daniil Egorov, has noted that the decision would be made based on the procedure for regulating these transactions in Russia.