Izvestia, the news portal of the Russian Ministry of Information Technologies, recently reported that cryptocurrencies will still not be considered a legitimate method of payment under the country’s “digital bill” which is expected to establish a legal basis for digital rights and digital transactions.

President Vladimir Putin had previously ordered the central bank and the government to submit an assessment of cryptocurrency, including the risks involved and the technological solutions it may offer in banking.

However, it may follow from the bill that such currencies may be used as payment “in controlled quantities” in the future. It is said that by that time, the Ministry of Finance, the Ministry of Economic Development and the Central Bank would have established a separate law that dictates the conditions by which such payment can occur.

Source: CCN

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