Russian businesses to be fined for crypto payroll

Despite the growing interest in cryptocurrency payments, Russian businesses are prohibited from paying wages in digital assets. The current fine for such violations is 50,000 rubles, but a proposed bill would raise it to 1,000,000 rubles to discourage illegal practices.

Moscow’s authorities are concerned that allowing crypto payments could lead to tax evasion and diminish the ruble’s value. Meanwhile, international sanctions have prompted some companies to consider cryptocurrency as an alternative payment method.