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  • Cryptocurrency regulations in Russia are going to be set out into three tiers.  
  • The categories/tiers are going to be namely ‘Virtual Assets,’ ‘Technical Tokens’ and ‘Digital Finance Assets.’

 

Russia’s Finance Ministry has proposed new cryptocurrency regulations in Russia to as they set out to classify cryptocurrencies under three separate legal categories.  

It is another course of action taken by the financial authorities in Russia to acknowledge and regulate the cryptocurrency market in the country. The report of this classification proposal also details on the increasing acceptance of the crypto market by the Russian authorities.

Russian Deputy Finance Minister,   Alexei Moissev, has detailed that the legal classification of cryptocurrencies will be categorized into three types, namely ‘Virtual Assets,’ ‘Technical Tokens’ and ‘Digital Finance Assets.’