Russian President Vladimir Putin has signed a new law officially recognizing digital currency as property in the country. This move marks a significant step towards regulating the growing market of cryptocurrencies in Russia.
The law, which was signed on Friday, allows individuals and entities to own and transfer digital currencies like Bitcoin, Ethereum, and others. This means that digital currencies will now be subject to the same property rights as other assets in Russia.
This development comes as global interest in cryptocurrencies continues to rise, with many countries exploring ways to regulate and integrate digital currencies into their financial systems. Russia’s decision to recognize digital currency as property reflects a growing acceptance of this new form of money.
The new law also includes provisions for the taxation of digital currency transactions, as well as regulations for digital currency exchanges and wallets. These measures are aimed at providing a legal framework for the use of digital currencies in Russia, while also ensuring the security of investors and consumers.
Overall, Putin’s signing of this law is a significant milestone for the cryptocurrency industry in Russia. It signals a move towards greater acceptance and regulation of digital currencies in the country, paving the way for further growth and development in this emerging market.