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Russia will legalize anonymous wallets

  • Anonymous digital wallets may be allowed in Russia

  • Today, more than 10 million Russians use electronic payment services

  • The new bill does not apply to cryptocurrencies

Russia will legalize anonymous wallets

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State Duma deputies are considering a new bill that will allow individuals to use anonymous digital wallets.

Russia will legalize anonymous wallets

Anonymous wallets for individuals only

Chairman of the Duma Committee on the Financial Market Anatoly Aksakov, together with a group of deputies from different factions, submitted for consideration a new bill that will actually legalize the use of anonymous wallets to transfer funds between individuals.

The new bill should eliminate the contradictions between the articles of the law “On the national payment system”. If the proposed document is adopted by the State Duma, the Russians will be able to freely transfer money from the “non-personalized electronic means of payment” to the accounts of other individuals and legal entities..

However, the parliamentarians note that this law will only apply to electronic payment services such as Yandex.Money, QIWI-Wallet, WebMoney and PayPal and others similar. This initiative does not apply to cryptocurrency, since it is not recognized as a means of payment, RBC reports..

Recall that in August of this year, the government decided to prohibit accumulating deposits in electronic wallets, as well as using them to transfer funds. This decision stumped more than 10 million people who regularly used e-wallets for digital payments..

Crypto wallets remain illegal

The new bill will not in any way affect the use of cryptocurrencies in Russia, experts say. Bitcoin and other crypto coins are still not recognized as a means of payment, so the use of crypto wallets is not regulated by law. Nevertheless, Russia entered the top 15 countries by the number of cryptocurrency holders.

Most often, Russians store their crypto coins on exchange wallets or cold wallets, which protect the holder’s funds from remote hacker attacks..

Top Crypto Wallets of 2021 If you want to buy Bitcoin, Litecoin, Ethereum or any other coin, you will need a cryptocurrency wallet. This is a special software, … More see here.


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