Russian Minister Confirms Plans to Ban Bitcoin-to-Fiat Conversions
Russia's Deputy Finance Minister has confirmed the country's plans to penalise the conversion of cryptocurrencies such as bitcoin into the ruble. Speaking to CoinDesk, Alexey Moiseev said a proposed draft law has been created and, if passed, would mean people engaging in crypto-to-fiat conversions would face up to four years in prison. He explained: "It's true that we have developed draft law which provides up to four years in prison for some types of activities which relate to ... quasi-currencies. These types of activities are typically related to an exchange of those currencies into the....
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Cryptocurrencies will be eventually legalized, a member of the Russian government has opined. The question is when this will happen, Trade Minister Denis Manturov stated as new crypto-related legislation advanced in the State Duma this week.
Crypto Legalization Is Current Trend, Russian Minister Acknowledges
Cryptocurrency can be legalized in the Russian Federation, according to a statement by the country’s Minister of Industry and Trade Denis Manturov, during the “New Horizons” educational marathon organized by the Russian “Knowledge” society.....
Nikolai Nikiforov, the Russian Minister for Communications and Mass Media spoke about Bitcoin's underlying technology, the blockchain. The Minister notes the distributed ledger technology as "very interesting" and intends to monitor its development going forward. Speaking at the 'Internet Economy' forum today, the Russian Minister for Communications and Mass Media, Nikolai Nikiforov elaborated on "necessity to explore the use of blockchain technology in the best interests of the public." In comments that were reported by state-owned news agency TASS, Nikiforov said: As a new technology,....
Prime Minister Mikhail Mishustin and the Russian Ministry of Economic Development have backed efforts to regulate cryptocurrencies and integrate them into the country’s economy. The support comes amid mounting sanctions over the war in Ukraine which restrict Russia’s access to global finances.
Finance Ministry’s Push to Legalize Russian Crypto Space Gains Traction
Russian authorities are moving towards the adoption of a comprehensive legal framework for cryptocurrencies, despite the central bank’s persisting opposition. The Finance Ministry’s....
According to local news reports, a Russian financial monitoring service will be tracking bitcoin-to-fiat transactions.
Russian Prime Minister Dmitry Medvedev has given instructions to two government ministries to study and research the application of blockchain technology as a part of the country’s ‘digital economy’ program. First reported in regional publication RIA Novosti, Russian interest in embracing Fintech has gained its most prominent proponent with the country’s prime minister. In a meeting with vice-premiers of the Russian government, the country’s prime minister has ordered the Ministry of Communications and the Ministry of Economic Development to consider the possibility of using the technology....