Regulatory debates, mining, sanctions dynamics, and Russia’s complex crypto environment.
The legislation comes after the central bank finally showed signs of support for crypto payments over the last few months.
Monica Noronha 2 min read 
The Russian government agencies disagree on the viability of stablecoins, but perhaps a compromise can be reached in developing a ruble-backed stablecoin.
Russia approved a draft bill to exempt cryptocurrency issuers from VAT as part of its ongoing pro-crypto legislation.
While the Russian government is looking to adopt crypto for international payments, the Central Bank and Finance Ministry are yet to reach a consensus on crypto regulation.
Russian government agencies are yet to agree on whether crypto should be regulated or banned.
Coinbase has asked select users to provide documents that prove they are not subject to EU sanctions before May 30.
A Reuters report stated that Russia requested for information concerning the country’s opposition leader from Binance.
Binance's latest restrictions target Russian citizens and entities that hold over $10,885 in their crypto wallets.
Russia's Ministry of Finance is working on draft regulations that will legalize crypto as a payment method.
