Izvestia learned about the idea of ​​the Federal Tax Service to allow cryptocurrency for foreign trade

To make foreign trade transactions, the Federal Tax Service proposed to allow companies to use cryptocurrency, Izvestia writes. Ministry of Finance, according to the newspaper,

Russian companies may be offered to be allowed to pay for export-import operations in cryptocurrency. Such a proposal was made by the Federal Tax Service (FTS) when discussing the bill of the Ministry of Finance "On digital currency", Izvestia reports with reference to the revised version of the document.

At the same time, payments in cryptocurrency for goods and services are still prohibited in this version of the bill, cryptocurrency is considered solely as a means of investment. For legal entities, a clause will be made that will allow them to pay for goods, work, services under foreign trade contracts and receive proceeds from foreign entities in digital currency. Companies are offered to buy and sell cryptocurrencies on crypto exchanges.

The Ministry of Finance partially supported the idea, indicating that it requires additional elaboration and, possibly, legislative regulation, Izvestia points out.

As RBC-Crypto previously reported, the proposals of the Ministry of Finance to regulate digital currencies also contained a ban on the exchange of cryptocurrencies outside of licensed exchangers and the use of uncertified crypto wallets, as well as a ban on transactions not permitted by law, for example, the exchange of cryptocurrencies by individuals, transfers using cold wallets, etc.

The European Union in the fifth package of sanctions, released on April 8, banned the provision of services to Russian residents by cryptocurrency wallet operators, as well as keeping records and storage of crypto assets if their amount exceeds €10,000.

The Central Bank announced the threat of replacing the ruble with the spread of cryptocurrencies

At the end of January, the Central Bank proposed to ban the issuance, circulation and exchange of cryptocurrencies, as well as the organization of these operations. The regulator also considered it necessary to ban the mining of digital assets and start monitoring Russian investments in cryptocurrency on foreign trading platforms. The Ministry of Finance and the government opposed such a tough approach. As a result, Deputy Prime Minister Dmitry Chernyshenko approved a roadmap that proposes the regulation of cryptocurrencies, and not their ban, as well as the identification of customers and responsibility for the illegal circulation of digital assets.

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The State Duma allowed the recognition of cryptocurrency as property this year

The Ministry of Finance then developed the concept of regulation of cryptocurrencies, which proposes to carry out all transactions with cryptocurrencies through Russian banks, identify holders of crypto wallets and divide customers into qualified and unqualified investors.

In early February, the largest international crypto exchanges, including Binance, Huobi and AAX, announced their readiness to comply with Russian legislation regarding cryptocurrencies and open their own representative offices in Russia.