Russian President Vladimir Putin has officially recognized Bitcoin as a legal asset in the country.
Russian President Vladimir Putin has officially recognized Bitcoin as a legal asset in the country. This new law includes regulations for mining, trading, and corporate activities related to cryptocurrencies and imposes taxes on business profits. The law also enables Russia to use cryptocurrencies for international transactions to bypass sanctions. These changes have been introduced in response to economic pressures and the declining value of the ruble. The decentralized nature of cryptocurrencies makes it difficult for Western regulators to track them, providing Russia with a means to access vital resources, both in the military and other sectors.
Source: cryptorank.io
