Russia promotes ”legalization of crypto assets”...Parliament considers cryptocurrency bill and mining legislation

The State Duma, the lower house of the Russian parliament, is set to consider a cryptocurrency bill and a separate law on cryptocurrency mining, CryptoNews reported on the 30th (local time).
According to Bloomberg, Anatoly Aksakov, chairman of the State Duma's financial markets committee,
"The draft bill is expected to undergo rapid approval by the Federal Assembly and then be signed into law by President Vladimir Putin starting September 1," Aksakov said.
"Previously, there were concerns that legalizing crypto assets could cause problems for the development of the domestic market," Aksakov said. "But crypto assets are an objective phenomenon.
Russia is pushing ahead with cryptocurrency restrictions amid growing threats of US secondary sanctions against foreign banks.
Currently, digital currency payments are prohibited in Russia, but President Putin recently asked his government to consider this option.
"Crypto assets are increasingly being used as a means of payment in international payments," Putin said.
The policy change comes despite the central bank proposing a total ban on crypto assets in January 2022, citing risks to financial stability and economic security.
However, late last year, the Bank of Russia softened its stance, supporting the experimental use of cryptoassets and mining in cross-border payments, while also barring financial institutions from operating digital currency services.
The agency recommended that the company not publicly promote the service.