Is it legal for companies in the Russian Federation to accept payments in cryptocurrency?

Pursuant to Part 5 of Article 14 of Federal Law No. 259-FZ dated July 31, 2020 "On Digital Financial Assets, Digital Currency, and Amendments to Certain Legislative Acts of the Russian Federation" (as amended on August 8, 2024), the use of digital currency as a means of payment is prohibited within the territory of the Russian Federation. This means that companies registered in the Russian Federation are not permitted to accept cryptocurrency as payment for goods, works, or services. This provision applies to both legal entities and individuals and effectively excludes the lawful use of cryptocurrency in settlements between economic entities. Although ownership and circulation of digital currency are not prohibited, its use in payments violates the current legislation and may entail legal consequences, including the refusal to recognize such transactions as valid.