Russia to recognize crypto assets as currencies: KOMMERSANT

The Russian government and central bank have just reached an agreement on cryptocurrencies, according to Russia's Kommersant.

Both organizations will treat bitcoin and crypto assets as currencies.

They will prepare a bill on circulation of digital currencies in Russian federation in which crypto currencies are recognised as analogues of currencies and not digital financial assets(CFA).

But there is a catch, the transition to currencies legally is only possible with full identification through banking sector or licensed intermediaries. Any transactions above 600 thousand rubles need to be declared, failing to do so becomes a criminal offence.

https://www.kommersant.ru/doc/5206307 This is in Russian language.

Translation in english