Bank of Russia, Finance Ministry Agree on Crypto Mining Regulation, Law Expec...
Major government institutions in Moscow, the central bank and the finance ministry, have aligned their positions on the regulation of cryptocurrency mining in the Russian Federation. The respective bill will soon be filed with the State Duma, a high-ranking member of the house unveiled. Financial Authorities Reach Consensus on How to Regulate Mining of Digital Coins in Russia The Central Bank of Russia (CBR) and the Ministry of Finance (Minfin) have adopted a joint position on the regulation of crypto mining. The bitcoin-related activity has been expanding in the energy-rich nation, both....
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A high-ranking representative of the Ministry of Finance in Moscow sees no point in banning crypto mining in Russian households as it would be hard to restrict the activity. The top official also revealed that the department is currently finalizing regulations for the mining sector as part of efforts to legalize Russia’s crypto space.
Russia Prepares to Legalize Cryptocurrency Mining
Trying to prohibit at-home crypto mining makes no sense as it would be difficult to impose such a ban, according to Alexey Yakovlev, deputy director of the Financial Policy Department at the....
Deputy Head of Russia's Ministry of Finance Alexei Moiseev has said Russia is likely to pass its digital currency ban in the spring of 2015, according to a report by Russian business news agency Prime. "We might accept this law during this session, but most probably we will do it in spring," Moiseev said. Russia's Ministry of Finance has announced proposals to ban the issuance of bitcoin and any operations involving cryptocurrency. On Friday (1st August), the Finance Ministry announced on the government's regulation website that it was drafting a bill relating to cryptocurrencies, which,....
The Finance Ministry in Russia, long known for taking an aggressive stance against Bitcoin is now developing a proposal to officially ban bitcoin in Russia. The proposal by the Finance Ministry cites the Russian Central Bank to be the sole issuing authority to create what it sees as the only valid currency in the country, the Russian ruble. The Ministry of Finance in Russia is in the process of proposing new amendments to article 27 of the Russian Federation’s Federal Law on the Central Bank (Bank of Russia). A report published today by Moscow-based publication Izvestia, has revealed that....
Finance Ministry official says an upcoming bill may provide local infrastructure a allow businesses to negotiate the use of cryptocurrencies in international trade on their own. A Russian Finance Ministry official has provided new details about a bill on digital currencies, whicht is currently being drafted.The bill provides local infrastructure for settlements and regulation on mining, but will leave many details for businesses to work out on their own, the Finance Ministry's Financial Policy Department head Ivan Chebeskov said Monday at a roundtable hosted by the International Chamber of....
Russia will not have Bitcoin regulation anytime soon as the country's finance ministry considers reviewing the current draft law. Russia’s stance towards Bitcoin and other cryptocurrencies has taken a U-turn. Last week, the country’s finance ministry stated that it is not in a hurry to introduce the Bitcoin draft law. The ministry is planning to review the draft once again. Alexei Moiseev, the Deputy Finance Minister of Russia has announced that the ministry will not be pushing for a direct blanket ban on Bitcoin in the country. According to Moiseev, the review process will involve the....