Anna Maximenko Speaks at the Forum Digital Finance: New Economic Reality
On September 5, the ACRA II Forum Digital Finance: New Economic Reality was held embracing more than 500 participants.

The participants discussed current issues of DFA market development, global crypto trends and Russia's role in their development. Cross-border settlements in DFA were an important part of the discussion. KKMP partner Anna Maximenko took part in the session dedicated to this issue.

Anna emphasized the significant development of Russian regulation in this area in 2024 and the opportunities it offers. However, Anna drew attention to the challenges that cross-border settlements in DFA may face due to the regulation applicable to the foreign counterparty:

 

  • Lack of regulation of digital rights;

  • Negative attitude of the regulator;

  • Inability or significant difficulties of exiting into fiat;

  • Applicable exchange control regulations, including repatriation of foreign exchange proceeds;

  • Sanctions compliance.

 

Please see our client updates discussing the issues of cross-border settlements in DFA.

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