Summary: Russian President Vladimir Putin signed a new bill on digital assets into law on Friday, July 31, local outlets report. The bill permits the operation of crypto and blockchain companies, but prohibits the digital currencies from being used as payment. Digital securities listed on a blockchain must also be registered with the Bank of Russia. ...

Russian President Vladimir Putin signed a new bill on digital assets into law on Friday, July 31, local outlets report.

The bill permits the operation of crypto and blockchain companies, but prohibits the digital currencies from being used as payment. Digital securities listed on a blockchain must also be registered with the Bank of Russia.

The bill also offers the first legal definition of crypto assets and defines them as taxable properties rather than as currencies.

By Emily Mason