Russia to Decide Between Full Ban and Legalization of Crypto Investments, Trade
Authorities in Russia are discussing two very different approaches to the regulation of cryptocurrencies and related activities. While the Bank of Russia is reportedly seeking to introduce a ban on buying crypto assets, lawmakers are moving forward with efforts to adopt rules for mining, exchange, and taxation that would effectively legalize cryptocurrencies. Russian Officials Debate Over Alternative Crypto Regulations Russian institutions, including the central bank and the lower house of parliament, the State Duma, are mulling over how to put the country’s growing....
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Cryptocurrencies are anonymous and the government shouldn’t encourage their spread, the head of Bank of Russia has insisted. The regulator remains firmly opposed to the legalization of bitcoin and the like as a means of payment in the Russian Federation. Bank of Russia Reiterates Negative Stance on Cryptocurrencies, Legalization of Bitcoin A “responsible state” should not stimulate the proliferation of cryptocurrencies, according to Elvira Nabiullina, chair of the Central Bank of Russia (CBR). The head of the monetary authority made the declaration in the lower house....
The main finance industry association of Russia has urged authorities to reconsider a position against crypto investments in the nation’s financial market strategy. The organization insists that the crypto investments of Russians should be brought out of the “gray zone” instead of being banned.
Finance Industry Body Urges Government to Regulate Operations With Crypto Assets
The Russian National Financial Association (NFA) has issued a call to amend the country’s Strategy for Development of the Financial Market of the Russian Federation Until 2030 in....
The Central Bank of Russia would agree to the legalization of cryptocurrency mining, provided the proceeds from the activity are converted to fiat outside of Russia. The regulator’s latest position on the matter comes after it softened its stance on the possible use of cryptocurrencies for payments, even if only internationally.
Central Bank of Russia to Accept Legalization of Cryptocurrency Mining
The monetary authority in Moscow is now ready to back the legalization of crypto mining under the condition that Russian miners are obliged to sell the coins they obtain in....
Russian financial watchdog Rosfinmonitoring is ready to accept the use of cryptocurrencies in international settlements, the head of the agency, Yuri Chikhanchin, has indicated. The statement adds to growing support for the legalization of international crypto payments in Russia amid financial restrictions imposed over its invasion of Ukraine. Top Financial Regulator in Russia Welcomes International Crypto Payments The Federal Financial Monitoring Service of the Russian Federation, also known as Rosfinmonitoring, fully accepts that cryptocurrencies can be employed for settlements with....
The Central Bank of Russia has reaffirmed its opposition to cryptocurrency investments citing the volatility of the digital assets as a key motive for its conservative stance. Governor Elvira Nabiullina has recently indicated that the regulator has the means to restrict them.
Nabiullina Insists Bank of Russia Can Limit Investments in Crypto Assets
Russia’s monetary authority does not welcome investments of Russian citizens in cryptocurrencies, the head of the Central Bank of Russia (CBR), Elvira Nabiullina, said during an online press conference this week. She highlighted....