Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Russia Declares Cryptocurrency Is Legal, But Prohibits Use for Payments: Report

by Daily Hodl Staff
August 3, 2020
in Regulators

Russia is reportedly declaring cryptocurrency legal after president Vladimir Putin signed a bill recognizing cryptocurrencies as a type of property that cannot be used for payments.

According to Russian public records, bill number 419059-7 was initially submitted to the State Duma, the lower house of the Federal Assembly of Russia, in March 2018. After more than two years in the review stages, the bill made its way to Putin late last month, reports the state-owned Russian media outlet RT.

“The Council Federation of the Federal Assembly of the Russian Federation decides:

  1. To approve the Federal Law ‘On digital financial assets, digital currency and amendments to certain legislative acts of the Russian Federation’
  2. This resolution comes into force from the date of its acceptance.”

According to Russian news outlet RIA, legislators define cryptocurrencies as a means of savings and investments but not as a means of payment. In addition, individuals and entities should report their crypto holdings for tax purposes.

The bill also says Russian banks and crypto exchanges will have the capacity to legally sell, purchase, and facilitate the exchange of digital assets after registering with the Central Bank of the Russian Federation.

Anatoly Aksakov, head of the Duma committee on the financial market, says concepts related to the business of cryptocurrencies, such as tokens and mining, will be addressed in a separate bill, which may be passed before the end of the year.

 
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Baturina Yuliya

Submit a Press Release

Industry Announcements

  • Oracle Red Bull Racing To Unveil 2022 NFT Collection at the Monaco Grand Prix, Powered by Tezos and Bybit
    May 27, 2022
  • Ankr Partners With Pocket Network To Propel Web 3.0 Into a New Era of Truly Decentralized Infrastructure
    May 26, 2022
  • Kriptomat Makes Automated Trading Available to All
    May 24, 2022
  • Spritz Finance Raises $2.5 Million in Pre-Seed Funding
    May 24, 2022
  • Bored.Ai Opens Text2Art Minting for the First Time
    May 24, 2022
  • Nitro League Releases Updated Roadmap To Launch Its Racing Metaverse
    May 24, 2022
  • Crypto Derivative Traders Can Access TradingView With Broker Eightcap
    May 24, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$28,973.00
$28,973.00
1.28%
Ethereum
$1,780.94
$1,780.94
2.81%
Cardano
$0.465121
$0.465121
1.99%
XRP
$0.385557
$0.385557
0.12%
Dogecoin
$0.081572
$0.081572
0.51%

Spotlight

  • Is Bitcoin (BTC) a Currency? Sweden’s Central Bank Weighs In on the Largest Crypto Asset
    May 23, 2022
  • Crypto Analyst Predicts for Rallies for Binance Coin (BNB), Solana (SOL) and One Additional Ethereum (ETH) Rival
    May 25, 2022
  • Dogecoin (DOGE) Briefly Pumps After Elon Musk Says SpaceX Will Accept the Memecoin for Merch Payments
    May 28, 2022
  • Shark Tank Investor Kevin O’Leary Says ‘Nightmarish’ Crypto Correction Good for Industry – Here’s Why
    May 24, 2022

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX

© 2022 The Daily Hodl