The Bank of Russia has identified the specifics of currency control for transactions with digital rights. This is stated in the message of the Central Bank with reference to the relevant instruction, which will enter into force on January 11, 2025.
In accordance with the instruction, foreign trade contracts, including those for which digital rights are used in settlements, are subject to registration with authorized banks.
For such contracts, the registration approach has been maintained: for import contracts — from 3 million rubles, for export contracts — from 10 million rubles.
The instruction determines which documents and information the resident must transfer to the bank. Such information includes data on transactions involving the transfer or receipt of digital rights as a means of payment under foreign trade contracts, as well as when performing other currency transactions related to digital rights.
