According to local news, authorities in Russia are preparing to recognize digital assets as a form of currency.
The Russian government and the Central Bank of Russia have reached an agreement on how cryptocurrencies will be regulated, Russian newspaper Kommersant reported this morning. They are now drafting a bill expected by February 18 that would define crypto as an “analogue of currencies” rather than digital financial assets.
The report also stated that it will be possible to use crypto with full identity in the legal sector, banking system or licensed intermediaries.
These reports show that President Putin supports plans to regulate the country’s crypto mining industry.
According to today’s Kommersant report, it was also stated that crypto transactions over 600,000 rubles (roughly $8,000) must be declared or will be criminal if not declared. It was reported that those who accept crypto as a means of payment will also be fined.
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