Russian Lawmakers Finally Pass Countryâ€™s Major Crypto Bill
Russiaâ€™s newly passed crypto bill finally provides a legal status to crypto, but does not allow it to be used as a payment method.
Russia passed a major bill today related to cryptocurrencies like Bitcoin (BTC).
After initiating the bill back in 2018, Russian authorities have finally agreed to provide a legal status to cryptocurrencies, preparing to adopt the first major part of legislation for the industry.Â
Following the latest Dumaâ€™s decision, the bill â€œOn Digital Financial Assets,â€� or DFA, is expected to be officially adopted in Russia on Jan. 1, 2021. The bill provides a legal definition to digital assets and legitimizes cryptocurrency trading in Russia. However, the bill prohibits the use of cryptocurrencies like Bitcoin as a payment method.
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