Is it permitted to buy and sell cryptocurrency?

Federal Law No. 259-FZ dated July 31, 2020, does not contain a prohibition on the purchase or sale of digital currency, including cryptocurrency. Such transactions are recognized as transactions involving property and are permissible for both individuals and legal entities. At the same time, it is important to note that the law prohibits the use of cryptocurrency as a means of payment for goods, works, and services within the territory of the Russian Federation (Part 5, Article 14). In other words, while it is lawful to own, buy, and sell cryptocurrency, it is not permitted to use it as a form of payment. The purchase and sale of digital assets must be accompanied by proper accounting and, where applicable, the declaration of income and payment of taxes — particularly in cases where profit is derived from such transactions.