Russian regulator: Bitcoin cannot be used for payments

The Central Bank of Russia, the Ministry of Finance and the government have discussed how to regulate the Russian crypto space. Decentralized digital currencies will not be accepted as a means of payment, Alexander Shokhin, head of the Russian Federation of Industrialists and Entrepreneurs (RSPP), told reporters after a conference devoted to digitization. “It’s clear that the two sides of this discussion have generally come closer. In particular, if we’re talking about a ban, it’s a ban on the use of cryptocurrencies as a means of payment, while others are regulated,” he said. A new law with sweeping rules for the circulation of cryptocurrencies in Russia is expected on Feb. 18, based on a proposal from the Ministry of Finance.