Crypto bill incoming: Russia’s finance ministry kicks off public comment period
The Ministry of Finance is seeking industry and public input on how to regulate digital assets by March 18. The Ministry of Finance of the Russian Federation has officially initiated work on the country’s cryptocurrency regulation bill, filing the first public notice on the federal legal portal. Russia’s finance ministry on Thursday filed two development notices announcing the start of the process of developing a legal framework for activities related to transactions with digital currencies and their issuance.The first notice, called “On Digital Currency,” informs about the government....
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The draft bill comes after the government gave the green light to Bitcoin regulation, disregarding the Bank of Russia’s concerns.
Russian Ministry of Finance has prepared and submitted a new bill to expand crypto regulations to the government. The law “On Digital Currency” aims to introduce rules for investment in cryptocurrencies while at the same time cementing a ban on their use in payments. Draft Law ‘On Digital Currency’ to Regulate Crypto Turnover in Russia The Ministry of Finance of the Russian Federation has presented to the federal government in Moscow legislation tailored to fill the regulatory gaps in the country’s crypto space, remaining after last year’s....
Russia is making a headway in finalizing its crypto bill, with the Ministry of Finance seeking the assistance of the public in improving the regulation of digital assets by middle of next month. A prior notice the ministry calls “On Digital Currency,” will expound on a public consultation to: 1 – Set regulatory rules for […]
As the public standoff between the two agencies approaches fever pitch, the Ministry of Finance makes a formal move. Russia’s Ministry of Finance has upped the stakes in its drawn-out showdown against the country’s Central Bank by formally introducing a bill that proposes to regulate digital assets rather than banning them.On Feb. 21, the Ministry introduced a draft of the federal law “On digital currency” to the government. This stage of the legislative process precedes the bill’s introduction to the parliament for consideration.The agency cited the “formation of a legal marketplace for....
An official from Russia’s Ministry of Finance has indicated the financial regulator now supports changes to a proposed law that would still ban bitcoin domestically but carve out provisions for its use as a foreign currency. In a new interview with state-owned newspaper Rossiyskaya Gazeta, deputy finance minister Alexei Moiseev said the change in tone is part of a broader effort to limit the use of alternatives to the ruble domestically, while removing uncertainty for those working with blockchain, its underlying distributed ledger technology. The announcement represents a significant....