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Putin Signs Russian Crypto Bill Into Law

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  • Putin Signs Russian Crypto Bill Into Law

    Russian President Vladimir Putin signed the first of two bills on digital assets into law on Friday, according to Russian media.
    • The bill, approved by the country's parliament last week, says companies can issue digital securities on a blockchain if they are properly registered with the Bank of Russia as issuers and satisfy certain criteria.
    • Decentralized cryptocurrencies are considered a type of property, which should be reported for tax purposes and cannot be used to pay for goods and services.
    • A more detailed law regulating crypto-related businesses is expected to be passed later this year, although no timeline has been disclosed.
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