Russia’s new cryptocurrency regulation has officially taken effect, marking a significant shift in the country’s approach to digital assets. This comprehensive legal framework, governed by the Bank of Russia, aims to bring exchanges, brokers, custodians, and digital depositories under state supervision. The legislation does not legalize cryptocurrencies for domestic payments, but allows regulated buying, selling, custody, and certain cross-border transactions through approved intermediaries. This structured approach could enhance the legitimacy of digital assets in Russia and positively influence market perception of Bitcoin.
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