Russia passed a major bill today associated with cryptocurrencies like Bitcoin [BTC].
In line with a recent news published by native reporting media in 22nd June, the State Duma – Russia’s legislative body – has passed a bill named “On Digital Financial Assets” in its 3rd final reading.
After initiating the bill back earlier in 2018, Russian authorities have finally agreed to provide a legal status to cryptocurrencies, preparing to adopt the primary major a part of its legislation for the growing industry.
Following the newest Duma’s decision, the bill “On Digital Financial Assets,” or DFA, is predicted to be officially adopted in Russia from 1st Jan, 2021. The bill provides a legal definition to digital assets and legitimizes cryptocurrency trading in Russia. However, the bill prohibits the utilization of cryptocurrencies like Bitcoin [BTC] as a payment method.