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Vladimir Putin Signs Law Banning Digital-Asset Payments in Russia
He has signed a bill that adds to a previous prohibition against cryptocurrency payments in the country.
Yazan Oliver Knight
Russia President Vladimir Putin has signed a law banning digital payments across the nation, according to a policy amendment on Thursday.
- The law was approved by the Russian Assembly, known as the Duma, on July 8.
- It bans the use of digital securities and utility tokens as a means of payment for goods, services and products in Russia.
- The amendment adds to the previous digital asset law drafted in 2020, which banned cryptocurrencies from being used in payments.
- In February, Russia's Ministry of Finance introduced a bill to parliament that would regulate cryptocurrencies in the country.
- This is in contrast to the view of the Bank of Russia, which has pushed for crypto activity to be banned.
- Russia has come under scrutiny this year for its alleged use of cryptocurrencies to evade sanctions following its invasion of Ukraine.
STORY CONTINUES BELOW
UPDATE (Sept. 5, 13:59 UTC): Rewrites headline to narrow focus of banned assets
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- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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