The Ministry of Justice of Russia does not see the need to legally define the concept of cryptocurrency at this point, state-owned news agency TASS reported on Feb. 13.
Alexander Konovalov, the Minister of Justice of Russia, reportedly claimed that it is too early to formalize crypto-related legislation to date. Konovalov based his remarks on the fact that cryptocurrencies cannot be used as a payment method in the country, according to the Russian Constitution.