Russia: Putin declares Bitcoin and Co. a legitimate investment

President Putin’s attitude towards cryptocurrencies remains divided. A new law allows cryptocurrencies to be held, but there is no official acceptance as a means of payment. According to a public announcement from the Russian government, President Putin signed a bill on cryptocurrencies. The new law allows cryptocurrencies such as Bitcoin to be owned, but it is not officially accepted as a means of payment. As the news portal The Daily Hodl writes, the bill is a little over two years old.

Long processing was necessary
Apparently, a long processing time was necessary in Russia before it could finally be presented to President Putin these days. Insiders report that the law has become less stringent when revised. At the moment, the Russian legislature is quite active when it comes to cryptocurrencies. The government has also banned anonymous deposits in crypto wallets. It is pretended to put an end to illegal activities such as drug trafficking, terrorism and money laundering. Charging wallets and some crypto cards is only possible from a bank account and no longer in cash. Changes affect, for example, customers of Yandex. Money, QIWI, WebMoney. PayPal users are also affected by this change. Deposits are only possible by linking a bank account to the wallet, which also enables the account holder to be identified.