Russian Ministry of Finance is set to prepare a "Concept of Bitcoin as a financial instrument" report, said Deputy Minister Alexey Moiseev."We're currently preparing a report for the government. Our proposal is to regulate Bitcoin as a financial product in order to first fight money laundering and second - protect the consumers of such financial products. So, basically, we propose to regulate it just like any other financial product. The ministry of Finance was asked to coordinate with a number of other agencies and finalize the report by mid-summer", said Moiseev.Earlier this month in an interview to Bloomberg Moiseev said that authorities are looking to legitimize Bitcoin and other cryptocurrencies in Russia in 2018.