Osman Kabaloev: The mined cryptocurrency can be spent on imported goods
The head of the Department of Financial Policy of the Ministry of Finance said that Russia will finally adopt a mining law allowing the use of mined cryptocurrency to buy goods abroad.
Osman Kabaloev, speaking before the International Chamber of Commerce (ICC Russia), said that the Ministry of Finance and the Central Bank had reached a consensus on the legal use of digital currencies.
The norm allowing the use of mined crypto assets in foreign trade outside the framework of the Russian financial market will appear as an amendment to the second reading of the mining bill. In foreign trade, it will be allowed to use only the cryptocurrency mined in Russia, the official said.
"The legalization of mining and the use of cryptocurrency obtained through mining for foreign trade purposes is the first approach that everyone agreed with. We are continuing to work on the draft law," the head of the department assured.
In order to complete work on amendments to the bill, the department "has to finalize several details along the line of the law enforcement unit," Osman Kabaloev admitted. The bill, taking into account the new amendments, can be adopted by the State Duma before the beginning of August, the representative of the Ministry of Finance believes.
On Tuesday, February 27, the State Duma approved the draft law on the use of digital financial assets (CFA) for international settlements in the second and third, final readings.
