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Russia probably about to introduce Bitcoin (BTC) and cryptocurrencies

 


According to media reports, the Russian Ministry of Finance has presented the Russian government with a finished draft law for dealing with digital currencies, which is now awaiting adoption. The planned law is intended to clarify the legal status of cryptocurrencies and set requirements for trading and mining with them.


As early as April 8, the Ministry of Finance announced that it was about to finalize a draft that would provide legal clarity on how to deal with cryptocurrencies such as Bitcoin (BTC) and altcoins.


Yesterday, April 16th, the first unconfirmed reports emerged that Russia's government had passed the new crypto law, whereupon the global crypto community reacted very benevolently within a very short time.  



Binance boss Changpeng Zhao also spread the word about the new Russian crypto law, although Zhao initially judged this move as unsurprising given the massive financial sanctions against Russia.




However, the community probably rejoiced a little too early, because the relevant reports were denied during the course of the day, which is why the Binance boss, among other things, had to roll backwards and has since deleted his tweet.


The possible "false report" was triggered by a report in the Russian newspaper Kommersant , which claims to have a final version of the draft law. This version provides for the recognition of digital currencies as "means of payment that do not correspond to the official unit of account of the Russian Federation".


The final draft of the Ministry of Finance should definitely be available to the Russian government, but an official announcement about the final adoption is not yet planned.


As Kommersant further explains, the draft also provides for the design of a comprehensive legal framework for crypto business activities.


Meanwhile, the pressure to recognize crypto seems to be increasing and politically opportune given the common financial sanctions of the West. The pressure also comes from within our own ranks. Pavel Zavalny, the president of the Russian gas lobby, recently pushed for Bitcoin ( BTC ) to be used as a means of payment for oil and gas exports in the future.

Zavalny wants to accept payments in rubles, yuan, lira or bitcoin from “friendly” countries, while forcing “unfriendly” countries to get their energy supplies in rubles or gold.

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