New Russian legislation aims to impose strict fines for using cryptocurrencies in payments, with individuals facing fines ranging from 100,000 to 200,000 rubles and companies up to 1 million rubles. Confiscation of illegally spent crypto is also mandated.
Both the Central Bank of Russia and the Ministry of Finance support these measures, emphasizing that digital currencies cannot be used for payments domestically, although they may be applicable to international trade.
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