Russia Categorizes Crypto as Property, Proceeds to Legalize Them

[mlawson71]

After a brief consideration whether not only to ban and even criminalize cryptocurrencies, Russia did a total one-eighty and legalized them instead.
The Russian Duma (that’s the Russian parliament) categorized cryptocurrencies as a set of electronic data that can be used for payments and/or investments. Not much will change for cryptocurrency traders in Russia now – cryptos will be maintained by nodes  operators of their respective blockchain systems. They won’t have a centralized responsible party either.
The new legislation will come into effect on the 1st January next year. The Russian Central Bank will become the main overseer and regulator of new cryptocurrencies in the country.
Source
Thankfully, that means that Russian exchanges should be able to continue to work without issues. I hope.