Russian President Putin signed a bill to recognize the legal status of cryptocurrency as an asset, but prohibit cryptocurrency as a means of payment

According to a report by the local Russian media RIA, Russian President Vladimir Putin signed a digital financial assets bill that regulates digital assets and cryptocurrencies. Although cryptocurrencies are given the legal status of assets and will legalize digital asset transactions, the country will be prohibited. Use cryptocurrency as a means of payment. According to reports, although the bill defines cryptocurrency as a property for tax purposes, it cannot be used for services such as payment for goods in Russia. The bill also contains a statement that Russian companies can issue digital securities through the blockchain, provided that the approval of the Russian Central Bank is required. The law is scheduled to take effect in January 2021.