Bitcoin Ban & Criminalization Bill Relaxed in Russia
The Ministry of Finance in Russia, or the Russian FinMin, is not quite beating its drum to ban bitcoin anymore, going by recent remarks of deputy finance minister Alexey Moiseev. Instead, a new amendment to the infamous bitcoin ban bill will allow for the purchase of the cryptocurrency in the country, which can then be used and sold in other countries. Moiseev made the revelation in an interview to Russian publication Rossiyskaya Gazeta. The amendment is the latest one among many with the much-publicized bill that was seeking to ban all cryptocurrencies and enforce criminal charges to....
Related News
The Russian Finance Ministry has long taken a determined hardline stance against bitcoin and other digital currencies, deemed by the regulator as ‘surrogates’ of the ruble. The Deputy Minister of Finance in Russia hopes that the draft law calling for the criminalization of bitcoin will be passed to the State Duma – the lower chamber of the Russian Parliament – before the end of the current session in August. A recent report by Russian publication RIA Novosti, has revealed that the Russian Deputy Finance Minister, Alexei Moiseev, hopes that a law is crafted to introduce criminal liabilities....
The Central Bank of Russia has relaxed some limitations for Russian banks selling U.S. dollars and euros to the public. The increased supply of foreign cash may affect the crypto market in the country as currency restrictions have been a driver of increased demand for digital coins. Monetary Authority of Russia Expands Citizens’ Access to Foreign Cash The Central Bank of the Russian Federation (CBR) has lifted one of the restrictions on the sale of U.S. dollars and euros in cash to private individuals imposed amid Western sanctions over the war in Ukraine, the Interfax news agency....
Russia’s parliament has advanced the bill that proposes to recognize cryptocurrencies as property. The proposed law will provide legal protection for cryptocurrencies but income from their activities will also be subject to taxation. Cryptocurrencies to Be Considered Property in Russia Russia’s State Duma, the lower house of Parliament, adopted a bill that recognizes cryptocurrencies as property and subjects income from them to taxation in the first reading, RIA Novosti reported last week. Noting that the document was submitted to the parliament by the government on Dec. 1,....
A bill prepared by Russia's Ministry of Finance targeting the creation and circulation of so-called money surrogates, a classification that would include digital currencies like bitcoin, has been at least temporarily withdrawn from consideration following comments from the country’s Justice Ministry. As reported by regional news source RNS last week, the bill – popularly known as the "Russian bitcoin ban" – received some negative feedback after the Justice Ministry is said to have objected to the bill on the grounds that its comments were not incorporated. The national....
Russia’s Ministry of Finance has drafted a bill with harsh penalties for anyone who does not report their cryptocurrency holdings above a certain level. Penalties include jail terms and fines. New Russian Crypto Bill The Russian Ministry of Finance has sent out a new draft bill addressing the circulation of cryptocurrency in Russia to interested government departments, local news outlet Kommersant reported this week. The bill contains amendments to the Russian Criminal Code, the Criminal Procedure Code, the Administrative Code, the Tax Code, and the law on combating money laundering,....