Putin Signs Ban On Crypto Payments In Russia

"Russian President Vladimir Putin approved a law Friday prohibiting the use of digital assets as forms of payments in Russia..." reports the tech/policy news site Protocol. The ban on crypto-form payments also apparently applies to NFTs:The new law also includes a provision that requires crypto exchanges and providers refuse transactions in which digital assets could be construed as a form of payment... The new law is set to take effect in 10 days. There's been some speculation that sanctioned Russian companies or individuals might use crypto to avoid sanctions imposed after the country's invasion of Ukraine. But officials have proven savvy in using on-chain analytics to trace transactions, and industry experts have warned that sanctions evaders would be ill-served by trying to use cryptocurrencies. U.S. and EU bodies have even added specific crypto wallet addresses to sanction lists.

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