Russia’s Duma passes law on cross-border digital currency payments

Odaily News The Russian Duma passed a law in the second and third readings that allows cross-border settlement and exchange transactions in digital currencies within the framework of the Experimental Legal Regime (EPR) from September 1, 2024. Current Russian regulations prohibit the use of digital currencies to pay for goods (works, services). The new law amends it to allow the use of cryptocurrencies as a means of payment for foreign trade activities within the framework of the EPR. At the same time, the EPR plan must determine the rights and obligations of such settlement participants, as well as monetary control authorities and agents. (RIA Novosti)