The world of crypto is rich territory for some pretty mind-bending stories.

Nobody saw this coming.

Moscow has stated its intention to create a central bank digital currency after previously discouraging the use of private cryptocurrencies up until now.

Cryptocurrencies have been permitted in Russia since January 1 of 2021 however, they have been prohibited as a form of legal tender for the purchase of goods or services.

Russia recently passed a new cryptocurrency law placing tough restrictions on the use of cryptocurrencies as a form of cash.

Fast forward after 16 months, Moscow has adopted a new stance and will include cryptocurrencies into its financial system.

Denis Manturov, Russia's Industry and Trade Minister, stated on Thursday that the government and central bank will "sooner or later" legalise cryptocurrencies as a form of payment, indicating that a resolution is near.