Putin Accelerates Crypto Legalization to Combat Shadow Economy
Russian President Vladimir Putin has ordered expedited measures to legalize cryptocurrency operations, targeting the nation's sprawling shadow economy. The push includes crackdowns on illegal mining operations and broader regulatory frameworks for digital assets.
Deputy Prime Minister Dmitry Grigorenko convened an urgent cabinet meeting December 15 to revise draft legislation, with final proposals due by January 26. The Ministry of Finance will lead the overhaul, coordinating with other agencies to 'whiten' economic activity currently conducted off-book.
This initiative follows Putin's direct intervention at a Council for Strategic Development session, where he demanded faster implementation of previously stalled reforms. The measures position crypto alongside cash and gold as focal points for bringing gray-market transactions into compliance.
