Russia Won't Ban Cryptocurrencies, Will Regulate Them Instead

Russian authorities have finally reached an agreement on how to tackle crypto by imposing regulations instead of a ban.

After going back and forth on how to deal with digital assets for months, Russia’s government and the nation’s central bank have decided to draft a bill on recognizing them as an analog of currencies. The authorities have until February 18th to present the draft.

The world’s largest country by landmass has had a rather indecisive approach towards the cryptocurrency industry dating a few years ago. Most recently, some of the governing bodies had disputes on how to tackle them. On the one hand, Russia’s central bank a total ban on anything crypto, citing the enhanced volatility that could threaten the country’s financial system.

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