According to local portals, the authorities in Russia will recognize and assets another is a form of currency.

The Russian newspaper Kommersant has news this morning (February 9) and later posted on Twitter that the government and the Central Bank of Russia had reached an agreement on how to regulate . They are currently preparing a draft law, scheduled for publication on February 18, that will define is “a currency” rather than a digital financial asset.

The report adds that cryptocurrencies can only be used “in the legal field” with full identification, either through the banking system or through licensed intermediaries.

The Kommersant also reports that the Cryptocurrency trading more than 600,000 rubles (approximately $8,000) will be required to report or face criminal charges if concealed. Fines will also be imposed on those who illegally accept cryptocurrencies as a means of payment.