The legal status of cryptocurrency in Russia

The rapid rise of Bitcoin’s exchange rate, which has already crossed the 6,000-dollar mark, unsurprisingly sparked an increase in its popularity, including in Russia. If virtual money was previously used mostly to pay for illegal services, today it is actively used for lawful purposes, and the number of those wishing to create their own cryptocurrency (miners) is experiencing virtually geometric growth. At the same time, it is impossible to talk about Bitcoin as an established legal institution with a certain legal status. Such uncertainty is fraught with significant risks for both professional market participants and ordinary miners.