Russian authorities decided to regulate cryptocurrencies. According to the announcement published on Tuesday, the federal government adopted a concept to integrate the circulation of cryptocurrencies into Russia’s financial system as early as this month.

The new framework will be aimed to protect the rights of Russian citizens, making the crypto service providers meet certain capital and liquidity requirements, as well as inform Russians about relevant risks.

This move contrasts with the Central Bank of Russia’s January proposal to impose a blanket ban on a range of operations with cryptocurrencies, including issuance, use, trading, and mining.