The use of cryptocurrency to bypass sanctions, especially in terms of payments for large amounts, it is impossible, referred to in the response of the first deputy chairman of the Bank of Russia Ksenia Yudaeva to the proposal of the State Duma deputy from United Russia Anton Gorelkin on regulating the cryptocurrency market in Russia compiled by results The March round table, the moderator of which he was, on the site of the party “United Russia”.
“We assume it almost impossible to use cryptocurrency to bypass sanctions, especially in terms of payments for large amounts,” reported in the document available to RIA Novosti.
In the Bank of Russia, they explained that in the current geopolitical situation it was necessary to note the increase in the regulatory risks of cryptocurrency. “The regulators of the United States, EU, Great Britain, Japan, Singapore began to implement measures to curb sanctions by using cryptocurrency. In this regard, cryptobiruses are introducing certain restrictive measures against Russian crypto investors, up to the blocking of access to the means,” is specified in the response Regulator.
The Central Bank believes that it is necessary to take into account the fact that cryptocurrencies serve much less payments than traditional payment systems, in connection with this, large payments can be detected and blocked by foreign regulators.
In addition, it is indicated that, according to the law on digital financial assets and digital currency, cryptocurrencies cannot be applied between Russian counterparties as an oncoming provision for goods, work and services, and to change this provision to the Bank of Russia considers “inexpedient.”