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/I believe that this information once again shows that everything is far from what they say about Russia, as well as about the correctness of its decisions. It is certainly clear that the Central Bank of Russia is a body that does not work for the benefit of the country itself, but is trying to introduce the desire of some forces from outside. But it’s good that the President of Russia intervened in this issue and put an end to this issue with one of his phrases about mining. Yes, it’s absolutely true that there will be cryptocurrencies in Russia, albeit through regulation, but still this is a very good signal and it will probably speed up the development of the crypto industry and the adoption of crypto in the world.
If the President itself has believed crypto that it will be good for their country, i think he is serious on that. Since Russia is the last year's third biggest crypto miner, then bitcoin could be a great tool in making it the first this year. It was noted that Russia has banned crypto mining and trading a while ago, but when the President sees crypto as good to improve the country, the Central Bank of Russia later agreed to it. Now, the banned has been lifted. Hopefully, the incoming success of Russia will influence other countries to adopt bitcoin too and legalize it as a currency.