Russia’s Prime Minister Mikhail Mishustin has unveiled the government’s plans to amend the current laws for recognizing cryptocurrency as property.
Mikhail Mishustin has shared plans for cryptocurrency regulation in a recent government meeting. There have been discussions among lawmakers to treat bitcoin as taxable property, but it is not yet official.
“Digital financial assets would be recognized as property, and their owners will be able to count on legal protection in the event of any illegal actions and defend their property rights in court,” the Russian Prime Minister said.
This August, the Russian President Vladimir Putin signed the crypto bill into law that would regulate cryptocurrency next year. Cryptocurrency regulations in most countries are still in a grey area. However, lawmakers and financial regulators are working to ensure decisions are made for the public interest.