I read the news carefully and I think this is still a proposal that the government may or may not approve in the near future. I would prefer countries to regulate bitcoin if they don't legalize it as a legal currency. Much more profitable for the government than having to ban it.
This news has made bitcoin fundamentals stronger which we expect will see a rise in price. Obviously not everyone in Russia likes bitcoin even within the government itself, but their desire to legalize some of bitcoin's functions should be rewarded rather than banned. The government will benefit from this legalization, but I think it's still a matter of time.
I checked on number of website and up to which I got is that it is their decision and they came to an agreement to crate a draft till 18th Feb and to present that to the country.
Another great new in 2022 for the crypto users. I am telling it good because it is good than a full ban about which central bank was thinking.
There was a worry from the central ban who called for a ban on bitcoin in Russia in the previous month but on Tuesday in their announcement they along with the Russian government agreed to legalize and regulate the cryptocurrency as a currency for the country. On 18th Feb they will launch a draft for that step
It means that now this community will be increased much more and the crypto field will see more development and seeing this other countries will also accept crypto as their currency.
Their attempt of this step is to handle the usage of bitcoin and other coins in the country because they government do not want to ban it and central bank asked for a ban on it.
But for the transactions more than 600,000 rubles which is around $8000, there will be tax
https://www.coindesk.com/policy/2022/02/09/russia-to-license-crypto-exchanges-tax-large-transactions/Well, this is a great news for every investors and hodlers. We're starting to see more countries start to adopt bitcoin and other cyptocurrencies around the world.
As what i have read, the central bank and russia have reached an agreement on how to regulate crypto currencies. And the report further stated that it will be only possible to use crypto in the legal sector. So if you want to use crypto to buy stuff you have your full id through the banking system or license intermediaries
https://www.binance.com/en/news/top/6942203I thought about that matter yesterday that why is it needed for every country which go to legalize crypto and I came up to the point that it is because of the international law made for anti money laundering. If they will not get that detail for the money used in their country then international organizations will ask about that.