"The amendments proposed by the draft law ... codify the digital financial asset as a legal means of payment on the territory of Russia," the document's explanatory note reads.

Interestingly, the draft law was submitted by a Communist Party MP named Rizvan Kurbanov.  The law proposes several amendments to the Russian Civil Code that will make the CryptoRuble a legal means of payment circulated nationwide.

In October, Russian President Vladimir Putin ordered the issuance of a national cryptocurrency - which many interpreted as a sign that Russia is warming to the new technology after initially seeking to ban it.

Many businessmen, including some with ties to Putin and his government, have sought to expand cryptocurrency mining operations in the country.