Putin Signs Law Allowing Use of Digital Financial Assets in International Payments

MOSCOW (Sputnik) - Russian President Vladimir Putin signed a law that authorizes the usage of digital financial assets and digital utility rights, as well as digital rights that include both of these instruments simultaneously in international payments, according to the relevant document published on the official legal information portal.

The initial edition of the bill touched upon modernization of financial platforms, while during the second parliamentary reading the document was amended with an opportunity of cross-border payments with the use of digital financial tools, excluding foreign financial assets.

The Bank of Russia, together with a body authorized by the government, will set the conditions for separate operations of currencies with digital rights, as well as will be able to ban such operations.