After the announcement of sanctions on cryptocurrencies by the Bank of Russia, the country's president Vladimir Putin saved the situation by not favoring the central bank's decision.
Most recently, Russian supervisors agreed to accept digital assets as another form of currency.
This announcement was made by the news media - Kommersant just now.
It seems that the central bank and the government have reached an agreement in the crypto space after disagreements over the course of days.
It is understood Russian regulators are preparing a bill that would designate crypto as an ‘analog currency’ starting February 18 instead of being considered a digital financial asset.
They want the acceptance and use of cryptocurrencies to be carried out responsibly, along with complete identity through a licensed banking system or intermediaries.
At the same time, this decision will benefit Russia 2x double - apart from crypto mining - because the introduction of crypto taxes is capable of generating up to $ 1 trillion rubles (~ RM56,029,610).
This is definitely exciting news for the crypto community. However, in a different report: any crypto transaction involving more than 600,000 rubles (~ RM33,605) in Russia is considered a crime.
Strict action will be taken against those who accept crypto as a medium of payment illegally.
