Russia bans cryptocurrency payments

Russian President Vladimir Putin has signed into law the banning digital payments across the nation, reports CoinDesk.

The law was approved by the Duma, on 8 July, and bans the use of digital securities and utility tokens as a means of payment for goods, services and products in Russia.

The amendment adds to the previous digital asset law drafted in 2020, which banned cryptocurrencies from being used in payments.

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