The news in the town is that Russia is preparing for a draft law to legalize Bitcoin and cryptocurrencies this month.
BREAKING: #Bitcoin to be recognized as legal currency in Russia.
— Watcher.Guru (@WatcherGuru) February 9, 2022
From its plans to ban digital assets to integrate crypto into its financial system, Russia has taken a 180-degree turn on its crypto policy. On Tuesday, February 8, the Russian government and central government published a report noting that they will soon introduce a crypto regulatory draft by February 18.
The Russian government is working on an arrangement wherein the distribution of digital assets will happen only through banking systems or licensed intermediaries. Any transactions conducted outside this legal sector will be a criminal offense. Also, there will be heavy fines for illegally accepting crypto as a means of payment.
Interesting one of the major goals of Russia’s crypto policy shall be integrating digital assets in the country’s own fin