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Putin signs bill that will ban using cryptocurrency as payment starting next year

Russian President Vladimir Putin has signed a bill that will prohibit cryptocurrencies as a means of payment in the country.

The development comes after Russian lawmakers proposed a version of the law that would make any business issuing or trading crypto illegal. The new bill, signed Friday, appears to represent a more mild version of the first proposal. Although the bill defines cryptocurrency as a kind of property for tax purposes, they cannot be used to pay for goods and services in Russia.

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