On July 6, the State Duma of the Russian Federation passed a law expressly prohibiting digital financial assets (DFA) and utilitarian digital rights and payment for goods and services.

In order to implement the prescribed restrictions, CFA exchange operators were obliged to refuse transactions in which it was possible to use such assets as a means of payment.

Token issuers and trading platform operators should make it impossible for users to create and modify records of DFAs when transacting with them.

At the same time, the prohibition on payment in service tokens can be lifted “in cases where federal law provides”, moreover, if the counter-provision is something whose transfer was originally provided by the purchase agreement. The digital right of this utility.

The law classifies operators of electronic platforms as subjects of the national payment system, they must be included in the register of the Central Bank of Russia.

The ban is expected to remove the risks of using the CFA as a money surrogate.

Recall that at the end of June, the Russian Federation adopted a law on the taxation of CFA. The document does not affect cryptocurrencies.

Earlier the same month, lawmakers introduced a bill that provides administrative liability for the illegal issuance and exchange of the CFA.

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