The subject of crypto regulation has been highly debated by the Russian government. However, it seems this uncertainty will end soon as a new report from leading Russian news agency, TASS, confirms the Finance Ministry has submitted a bill to regulate cryptocurrency in the country.
The bill was reportedly drafted and submitted to the Russian government on 18th February, stating how digital currencies will be used within their territory.
The Finance Ministry prohibited the use of cryptocurrency as a payment currency. However, crypto enthusiasts in the country will be permitted to use digital currencies solely as an investment instrument, according to the bill.
In addition to that, the ministry proposed creating a special register of cryptocurrency exchanges that will be permitted to operate in the country. These exchanges will be asked to test and set investment thresholds to divide investors in terms of qualification level.
