Russia May Introduce a Ban on Crypto Transactions

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Anatoly Aksakov, head of the State Duma Committee on the Financial Market, has recently proposed to legally ban the use of cryptocurrencies as a means of payment in Russia and hold accountable for settlements in them.

According to him, the ban is necessary to protect non-professional investors. He has further explained:

“The number of individuals involved in cryptocurrencies is quite large. Unfortunately, many inexperienced people fall into these networks, so we need to regulate all processes.”

Along with a strict ban on crypto payments, the official considers it possible to allow cross-border transactions in cryptocurrencies. In particular, payment for the supply of goods to Russia.