Russian Parliament Sets Up Working Group on Cryptocurrency Regulations

A crypto working group has held its first meeting at Russia’s parliament. Its members have been tasked to put forward legislative proposals designed to comprehensively regulate cryptocurrencies and related matters in the Russian Federation. Working Group Gathers at State Duma to Draft Crypto Regulations Lawmakers, government officials, and experts have met at the lower house of the Federal Assembly of Russia, the State Duma, to discuss and propose new legislation aimed at regulating the circulation of cryptocurrencies in the country, the head of the working group, Alexey Gordeev,....

Cryptocurrency can be quite complicated for some and lawmakers in Russia think they need to contemplate restrictions for private investors. According to a high-ranking representative of the legislature, the Russian parliament needs to provide them with “maximum protection” against the risks. Members of Russian Parliament to Seek Protection for Citizens Investing in Cryptocurrency Deputies in the State Duma, the lower house of Russian parliament, are thinking about introducing certain legal restrictions on the funds non-qualified investors can put into crypto....

The Federation Council of the Russian legislature is forming a working group expected to propose comprehensive regulations for cryptocurrencies. Officials from several ministries and government agencies, as well as members of the country’s expanding crypto industry, will join the body. Federation Council to Prepare New Regulations for Cryptocurrencies in Russia The Federation Council, the upper house of Russian parliament, is establishing a working group of experts to take on the task of developing additional regulations for Russia’s growing crypto space.....

Legislation making it illegal to pay with cryptocurrencies has been filed with the State Duma, the lower house of Russia’s parliament. The sponsors of the bill want to task crypto platforms to prevent transactions that could facilitate payments with digital assets. Draft Law Banning Use of Cryptocurrency for Payments Submitted to Russian Parliament Russian lawmakers will review a new bill imposing a ban on the use of digital financial assets, a legal term currently encompassing cryptocurrencies, and utilitarian digital rights, or tokens, as a means of payment in Russia. The document....

Citing unnamed but informed sources, Japanese publications are reporting that a working group under the Financial System Council have complied a draft of Japan's first ever cryptocurrency regulations. Under the new proposed rules, bitcoin exchanges and those dealing with virtual currencies must register with the government to fall under a regulatory framework. The rules, as reported by The Japan Times, are drafted by a working group under the Financial System Council (FSA). The proposals and discussion for the new rules began yesterday, while the bills required to enact the new rules and....