After going back and forth on how to deal with digital assets for months, Russia’s government and the nation’s central bank have decided to draft a bill on recognizing them as an analog of currencies. The authorities have until February 18th to present the draft.
The world’s largest country by landmass has had a rather indecisive approach towards the cryptocurrency industry dating a few years ago.
Most recently, some of the governing bodies had disputes on how to tackle them. On the one hand, Russia’s central bank proposed a total ban on anything crypto, citing the enhanced volatility that could threaten the country’s financial system.
On the other, though, the nation’s finance ministry preferred a softer approach by implementing regulations instead of a ban.
As per a report by local newspaper Kommersant, the authorities have decided to take the second approach and will prepare a draft law, by February 18th, to definite crypto as “an analog of currencies,” instead of a
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