Log in

🎊 Cryptonary New Year Sale! 50% OFF. Save $500 Now Only ⏰ : 0d 0h 14m 34s

News

Russia wants to recognize crypto as a form of currency

Updated: Jul 25, 2024
Published: Feb 9, 2022
0
Share:

According to local news reports, authorities in Russia are planning to recognize digital assets as currency.

Post Feature Image

Russian regulators have reached an agreement

Russian newspaper Kommersant reported this morning and later tweeted that the government and the Bank of Russia have reached an agreement on how Russia should regulate cryptocurrencies. They are now preparing a draft law, expected by February 18. It will define cryptocurrencies as "analogue of currencies" rather than digital financial assets.

The report says that it will only be possible to use cryptocurrencies "in the legal sector" with complete identification through the banking system or licensed intermediaries. It also plans to introduce an "obligation" for market participants to educate Russian citizens about the risks associated with digital assets. Further details from today's Kommersant report indicate that crypto transactions of more than 600,000 rubles (about $8,000) must be declared or constitute a criminal offense.

A big change in plans

The agreement is a significant reversal after the Bank of Russia proposed to ban miners and various other crypto transactions last month because they could jeopardize the country's financial system. Several Russian regulators and lawmakers, including the Ministry of Finance, the Federal Security Service, the Ministry of Internal Affairs, the Federal Tax Service, and others, were involved in the decision-making process on this new approach.

Two weeks ago, Bloomberg already reported that Russian President Vladimir Putin supported plans to regulate crypto mining. At the time, Putin opposed calls from the Central Bank for a blanket ban on cryptocurrencies. The Russian president stated that the country could gain "competitive advantages" from allowing crypto mining activities.

Continue reading by joining Cryptonary Pro

Save 50%

$997 $497/year

Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.

VisaCardImageMsCardImageCoinbaseCardImageSolanaCardImage

For your security, all orders are processed on a secured server.

As a Cryptonary Pro subscriber, you also get:

  • 3X Value Guarantee - If cumulative documented upside does not reach 300% during your 12-month membership, you can request a full refund.

  • 24/7 access to experts with 50+ years’ experience

  • All of our top token picks for 2025

  • On hand technical analysis on any token of your choice

  • Weekly livestreams & ask us anything with the team

  • Daily insights on Macro, Mechanics, and On-chain

  • Curated list of top upcoming airdrops (free money)

3X Value Guarantee

If cumulative documented upside does not reach 300% during your 12-month membership, you can request a full refund.

Terms & Conditions apply

Star

Trusted by 300,000+ investors

Our track record speaks for itself

With over 2.4M tokens and widespread misinformation in crypto, we cut through the noise and consistently find winning assets.

Our track record speaks for itself

With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.

/images/advertorial/corpcomm3.webp
/images/advertorial/corpcomm4.webp
/images/advertorial/corpcomm5.webp

Frequently Asked Questions

Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.

No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.

Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.

We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.

Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.

Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.

We stand behind the value of our research. If the documented upside from our published research during your 12-month membership does not exceed three times (3X) the annual subscription cost, you can request a full refund. Historical context: In every completed market cycle since 2017, cumulative documented upside has exceeded 10X this threshold.

Recommended from Cryptonary
Yield Watch: Safest Passive Income Ranges For 2026
PRO
Yield farming
Yield Watch: Safest Passive Income ...As Christmas approaches and the year comes to a close, markets are entering a quieter, less volatile...
4 min read
Dec 24, 2025
BTC, ETH and More: Markets Remain Range Bound
PRO
Market Direction
BTC, ETH and More: Markets Remain R...Momentum is slowing as markets push into year-end, with repeated rejections keeping price locked in ...
10 min read
Dec 23, 2025
Market Update: How Low Can BTC Go?
PRO
Market Updates
Market Update: How Low Can BTC Go?While US jobs and inflation are clearly cooling, bond markets and central banks are sending a more c...
9 min read
Dec 19, 2025