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De Facto Crypto Ban Will Be Hard to Achieve, Official Says

Russia may prohibit crypto payments for goods and services, but achieving such a ban might be quite difficult. This is the conclusion of Anatoly Aksakov, Chairman of the State Duma Committee on Financial Market.

Ban Enforcement Might Be Challenging

Aksakov told local media that enforcement on the use of crypto for payments is difficult from a practical perspective. The official commented:

“In the draft law on [digital financial assets], these instruments (cryptocurrencies) were prohibited. Accordingly, other bills were being prepared in parallel; [they] were aimed at introducing responsibility for conducting cryptocurrency trading on the territory of the Russian Federation. While all this is being negotiated for quite a while, law enforcement has questions. Maybe this is one of…

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