On October 2017, the president of Russia issued five orders related to cryptocurrencies and ICOs. 1. The Government of the Russian Federation, in conjunction with the Bank of Russia, shall ensure that changes are made to the legislation of the Russian Federation providing for :
- determination of the status of digital technologies used in the financial sphere and their concepts (including such as "technology of distributed registries", "digital letters of credit", "digital mortgage", "crypto-currency", "token", "smart contract" ") providing that only the Ruble has legal tender in the Russian Federation;
- Regulation on mining operations, including registration procedures and its taxation
- Regulation of ICOs by analogy with the regulation of the initial placement of securities, by July 2018
- Proposals on the creation of a special regulatory platform ("sandbox") by Dec. 20
- Formation of a single payment space for the member states of the Eurasian Economic Union with the use of new financial technologies, including the technology of distributed registries.