The Bank of Russia plans to extend currency control to transactions involving digital financial assets (DFA). This information comes from Vedomosti, citing a draft directive from the regulator.
According to the document, the central bank proposes to require both residents and non-residents to register foreign trade contracts, settled through digital rights, with an authorized bank.
The threshold for providing such information, similar to transactions with traditional currencies, will be set at 3 million rubles for import contracts and 10 million rubles for export contracts.
Back in February, Russia enacted a law on international settlements in DFA. Experts expressed doubts about the tool’s demand and pointed out several issues with DFA, including liquidity concerns.