Russia Goes Bullish On Bitcoin As Finalized Bill Suggests Adopting Crypto As Legal Tender

On the other hand, an operator of a digital trading platform who wishes to engage in the business of circulation of virtual currency must have at least 100 million rubles or $120 million.

The bill however puts the two operators under stringent rules including the preparation of annual reports, requirements for management bodies, internal audit, and control as well as the creation of a separate structural unit.

Friday’s bill comes even as the government submitted to the state duma a draft law that provides for a tax on digital assets transactions.

That said, despite Russia’s central bank’s tough stance on cryptocurrencies, tides seem to be shifting under Putin’s administration, especially with the ongoing sanctions against Russia for invading Ukraine.

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