The Russian Ministry of Finance has announced a new bill introduced to make trading cryptocurrencies legal inside the nation.
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“This is about the fact that buying and selling [of cryptocurrencies] will be somehow standardized. The general idea is that it will be necessary to buy and sell on official exchanges, as it will be declared, it will be legalized,” said Deputy Finance Minister, Alexei Moiseev.
The pro-crypto bill invites citizens of Russia to legally trade cryptocurrencies on approved exchanges.
Moiseev stated it’s “currently unresolved” which exchanges will be approved although inclusivity of the technology is being sought.
Other countries have issued statements regarding processes within the nation to either approve the use of cryptocurrency or to ban the technology.
Many in the industry consider the general acceptance of cryptocurrency by Russia will bolster the proposition in undecided nations.