Russia Rejects Crypto As Legal Tender, Finance Official Confirms

According to statements reported by Russian news agencies, Anatoly Aksakov, Chairman of the State Duma Committee on Financial Markets, said cryptocurrencies “will never become money” in Russia and should be treated only as investment instruments. He said that where a payment is required, it must be made in Russian rubles. Related Reading: Ethereum Meets Wall Street: JPMorgan Rolls Out Tokenized Fund Ruble Remains Sole Payment Unit Based on reports, that stance matches existing law. A 2020 federal law on digital financial assets defines digital currency as something different from Russia’s monetary unit and bars its use as a means of payment inside the country source: https://www.newsbtc.com/altcoin/russia-rejects-crypto-as-legal-tender-finance-official-confirms/