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New Russian Law Bans Bitcoin Payments for Goods and Services

Russian lawmakers have passed a bill that gives legal status to cryptocurrencies such as bitcoin – but bans them from being used to pay for goods and services. Legislators approved the Digital Financial Assets (DFA) bill on July 22 after its third and final reading. It had already won backing from senior lawmkers like Anatoly Aksakov, who heads parliament’s financial markets committee. The new law recognizes digital assets “as an aggregate of electronic data capable of being accepted as the payment means… [but] cannot be used at the same time to pay for any goods and services,” according to a…

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Russia Shelves Plans to Criminalize Bitcoin Transactions – For Now

Russia has dropped plans to criminalize bitcoin transactions – for now, according to local media reports. The Digital Financial Assets Bill (DFA), due to be read for the second time in the Russian parliament – or State Duma – on July 21, has removed references to administrative and criminal liability for dealing in bitcoin (BTC). A third and final reading will establish it as law. “There will be no liability in this bill,” Anatoly Aksakov, head of the parliament’s financial markets committee, told local news agency Ria Novosti. Aksakov, who is sponsoring the draft law, said the idea to penalize…

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