Russian Finance Minister Supporting Crypto Regulations Rather Than Complete Ban

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....

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.....

Russia might become the first country in the world to allow cross-border crypto payments while banning local crypto payments, a fintech expert in the Russian State Duma said. Russian Prime Minister Mikhail Mishustin on Tuesday officially instructed the government to come to a consensus regarding crypto regulation in Russia by Dec. 19, 2022.The prime minister specifically called on the Duma and other state authorities to come up with coordinated policies on regulating the issuance and circulation of digital currencies in Russia. Mishustin also asked regulators to finalize regulations for....

Speaking at the All-Russian Banking Conference, Deputy Minister of Finance Alexey Moiseev stated that the bill proposing penalties for using “monetary surrogates” will finally become law this year. According to RIA Novosti, Russia’s Ministry of Finance is expected to take measures sometime this year against the usage of monetary surrogates (such as Bitcoin), as stated by the Deputy Minister of Finance Alexey Moiseev at the All-Russian Banking Conference. “The law, which provides measures for penalizing the usage of monetary surrogates, will finally be passed this year.” The Deputy Minister....

Since Russian president Vladimir Putin's announcement on national television in July, the Russian authorities have granted the permission to use bitcoin in "some account." At one point, the Russian government had even thought about a proposal to support and define bitcoin as an alternative currency. Today, the Ministry of Finance has officially announced a tightening of regulations against bitcoin by disallowing the "production and trafficking of cryptocurrency." In a press statement, the office of Anton Siluanova, Acting Minister of Finance of the Russian Federation have suggested a four....