The Russian central bank said it’s ready to legalize the bitcoin and digital currencies.
For now, the value of cryptos can be displayed in Russian rubles, US dollars, euros, and other fiat currencies. In the future, Yandex is planning to add more pairs.
In the first half of 2022 alone, as many as 954 such entities have been identified. In comparison, during the same period of last year, this number totaled only 146, which marks a six-fold increase in scammers’ activity.
Admitting the volatility of cryptos and certain risks associated with it, Putin also highlighted the advantages that Russia can get if proper crypto regulation is introduced. In particular, crypto mining could bring good revenue to the country.