Russian President Vladimir Putin obliged Russian government and the Bank of Russia to prepare legislation on ICO and cryptocurrencies by July 2018.
Russian finance ministry and the central bank are reportedly planning to legalize the use of the digital currency in Russia by the end of the year.
The country’s Deputy Finance Minister unveiled that bitcoin may soon become a legal payment method, only a year after the Russian authorities threatened cryptocurrency users with jail time.
On Tuesday, Russian President Vladimir Putin commented on the potential use of digital currency in Russia during his speech at a domestic TV channel.
The Russian central bank said it’s ready to legalize the bitcoin and digital currencies.