Tough Crypto Law Expected in Russia Despite Central Bank’s Softer Stance on C...
The bill “On Digital Currency,” meant to comprehensively regulate crypto transactions in Russia, will be a “tough” law, according to the head of the State Duma Financial Market Committee. The legislation is yet to be finalized and will not be reviewed by lawmakers in the near future, Anatoly Aksakov revealed in an interview, despite Bank of Russia’s decision to drop its opposition to crypto payments, at least when they facilitate Russia’s foreign trade amid sanctions. Adoption of Russian Law on Cryptocurrencies Delayed by Ongoing Debate Over Rules....
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The governor of the Bank of Russia has maintained a tough stance on Bitcoin despite growing criticism of how the bank has handled digital asset regulation. The Bank of Russia continues its tough stance on cryptocurrency trading despite growing concerns over the country missing out on the digital asset industry. The governor of Russia's central bank, Elvira Nabiullina, reiterated the bank’s negative stance on crypto in a Monday interview with Komsomolskaya Pravda, arguing that crypto is one of the most dangerous investments that currently exist.Nabiullina mentioned crypto within the context....
A long-time member of the Russian State Duma has criticized the central bank’s approach to digital assets. A Russian State Duma member has blasted the central bank’s tough stance on the cryptocurrency industry for ignoring the growing demand for crypto in the country.Fedot Tumusov, a member of the “A Just Russia” party representing the Siberian region of Yakutsk, has criticized the Bank of Russia’s approach to regulating the crypto industry following a Tuesday plenary meeting of the State Duma.In a Tuesday Telegram post, Tumusov outlined the growing need to create an ecosystem that allows....
Another tentative deadline for the Finance Ministry and central bank to reach a compromise passes as an expected bill does not arrive. On Feb. 18, the Russian Ministry of Finance kicked off public consultations on the rules of cryptocurrency issuance and transactions. While a welcome development, it is less than the country’s crypto space had expected to get. Earlier in the week, the government announced that by Feb. 18, a bill containing the finance ministry and central bank’s consolidated position on crypto regulation would be drafted. Updated estimates suggest that it will take at least....
Elvira Nabiullina is concerned about the Bank of Russia not treating digital asset projects softly enough to attract funding and maintain the economy. Elvira Nabiullina, governor of the Bank of Russia, has admitted that Russia’s central bank might have taken a bit too tough a stance on digital assets and should look to reconsider that.On Thursday, the Russian State Duma reappointed Nabiullina as Bank of Russia governor, marking the third time for her to take the post since she started serving in the position back in 2013.At the official Duma session, Nabiullina talked about many measures....
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....