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Russian State Duma Adopts Law Banning Payments With Digital Financial Assets

The lower house of Russian parliament has adopted a law prohibiting the use of digital financial assets in payments. To implement the restriction, exchange operators have been obliged to reject transactions which make it possible to employ these assets as a means of payment.

The measure will be implemented by obliging platform operators, such as exchanges, to refuse to process DFA transactions facilitating digital asset payments. Token issuers and investment platform operators should also make it impossible for their clients to change records of DFAs when making transactions with them, Forklog reported, quoting the document.

However, the restrictions may not apply to some payments with utility tokens that are regulated by other federal laws, or if certain transactions are envisaged in the original agreement for the acquisition of the respective digital right, the report notes.

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