CoinTelegraph.com reported that in Russian “Cryptocurrency
transactions of more than 600,000 rubles (roughly $8,000) will have
to be declared; otherwise, it could be considered a criminal
act.” The February 9, 2022 article entitled “Russian government and central bank agree to treat
Bitcoin as currency” included these comments:
Russia's government and central bank are now working
on a draft law that will define crypto as an “analogue of
currencies” rather than digital financial assets set to be
launched on Feb. 18.
Cryptocurrencies would function in the legal industry only
if they have complete identification through the banking system or
licensed intermediaries.
This news comes after months of speculation about how the
Russian government will handle digital currencies. While it is
still unclear what this decision will mean for businesses and
citizens in Russia, it seems that the country is slowly warming up
to the idea of cryptocurrencies.
