Regulator determines specifics of foreign exchange control over digital rights operations
14.01.2025
The ordinance also specifies documents and information residents are supposed to provide to banks.
Russia’s Central Bank has determined specifics of foreign exchange control over digital rights operations. The ordinance took effect from January 11, 2025.
"Foreign trade contracts, including those providing for settlements using digital rights, must be registered with authorized banks. The thresholds for the registration of these contracts remained unchanged: over 3 mln rubles for import and 10 mln rubles for export contracts," according to the document.
The ordinance also specifies documents and information residents are supposed to provide to banks. These documents and information include data on transactions to transfer or receive digital rights as a means of payment under foreign trade contracts and on other foreign exchange operations related to digital rights.
Source
The ordinance also specifies documents and information residents are supposed to provide to banks.
Russia’s Central Bank has determined specifics of foreign exchange control over digital rights operations. The ordinance took effect from January 11, 2025.
"Foreign trade contracts, including those providing for settlements using digital rights, must be registered with authorized banks. The thresholds for the registration of these contracts remained unchanged: over 3 mln rubles for import and 10 mln rubles for export contracts," according to the document.
The ordinance also specifies documents and information residents are supposed to provide to banks. These documents and information include data on transactions to transfer or receive digital rights as a means of payment under foreign trade contracts and on other foreign exchange operations related to digital rights.
Source