DreamWorld
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The Ministry of Finance and the Bank of Russia have developed a draft law imposing fines for payments made in cryptocurrency, as well as the confiscation of cryptocurrency for such payments.
An alternative legal space is forming in Russia. The laws within it are either not adhered to at all with the tacit approval of the authorities, or are interpreted flexibly depending on current political and economic interests.
"It is obvious that the transition to blockchain payments is part of a broader strategy to move away from technologies and financial systems controlled by the West," says Bob Savich, head of the international trade and sanctions consulting department at the Global Policy Institute (GIS). "But how successfully Russian authorities will be able to use them for international settlements is still an open question."
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An alternative legal space is forming in Russia. The laws within it are either not adhered to at all with the tacit approval of the authorities, or are interpreted flexibly depending on current political and economic interests.
"It is obvious that the transition to blockchain payments is part of a broader strategy to move away from technologies and financial systems controlled by the West," says Bob Savich, head of the international trade and sanctions consulting department at the Global Policy Institute (GIS). "But how successfully Russian authorities will be able to use them for international settlements is still an open question."
🙄$BTC
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