The Russian Ministry of Finance is considering categorizing cryptocurrencies into three categories for regulation. The new bill will be passed by November 1.

On October 2, Russian news media RNS Online reported that the Russian Ministry of Finance is considering legislation to divide cryptocurrencies into three categories for regulation. According to the advice of Deputy Finance Minister Alexei Moiseev, the three categories are: 1. Technical tokens (utility tokens such as ETH); 2. Virtual assets (which can be considered as usual A cryptocurrency for transactions, such as BTC); 3. Digital financial assets (also known as securities, usually referred to as tokens sold during ICO). These three categories are similar to those already existing in other countries, but are more uniform. At the same time, Prime Minister Dmitry Medvedev called the bill federal law No. 419059-7 and requested that the bill be passed by November 1.