Ukraine’s updated crypto bill kicks one ministry out as regulator
Ukraine’s crypto bill was previously returned for revision due to the creation of a new regulatory body for crypto oversight. Ukraine’s parliament, the Verkhovna Rada, has approved some significant amendments in the country’s major cryptocurrency-related legislation known as the bill “On Virtual Assets.”The Ukrainian Rada passed the legislation in the second reading during a plenary session on Thursday, with 272 out of 365 deputies supporting the bill.The deputies specifically approved several bill recommendations by Ukraine’s President Volodymyr Zelensky, removing the country’s Ministry....
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The deputy minister of Ukraine’s Ministry of Digital Transformation believes that crypto payments will be allowed in Ukraine similarly to payments deriving from the U.S. dollar. A new cryptocurrency-related bill in Ukraine will allow payments in cryptocurrencies like Bitcoin (BTC) despite not recognizing crypto as legal tender, a government official claimed.Oleksandr Bornyakov, deputy minister of Ukraine’s Ministry of Digital Transformation, is confident that it would be “quite legal to pay with cryptocurrencies” in Ukraine through payment intermediaries enabling crypto-to-fiat....
A draft bill submitted to Russia’s legislative assembly, the Duma, is updated to a new draft edition that may be reviewed as early as February. The updated draft is likely to exclude harsh punishments such as imprisonment for trading bitcoin and other cryptocurrencies, a punishment previously suggested by the Russian Finance Ministry. The legislative initiative – originally forwarded in December – was initially seen as the first step to definitively criminalize cryptocurrency dealings and ban the use of bitcoin and other digital currencies. The draft bill came in the aftermath of the....
The Ministry of Finance of the Russian Federation has revised a draft law designed to regulate the country’s crypto space, introducing provisions for cryptocurrency mining. The bill has been resubmitted to the government and may be adopted during the parliament’s spring session. Updated Law ‘On Digital Currency’ Filed With Russian Government Russia’s Ministry of Finance has amended a bill intended to implement comprehensive rules for the Russian cryptocurrency sector. The latest version now takes into account the positions announced by other government....
The Ministry of Justice in Russia has, once again, not agreed to a draft bill put forth by the Finance Ministry seeking to ban bitcoin and introduce criminal liabilities to those who adopt, transact or mine the cryptocurrency. The Russian Ministry of Justice has disagreed with the bitcoin bill prepared by the Ministry of Justice, despite the bill being the second version of the draft, due to be entered into the State Duma – the lower chamber of the Russian Parliament. The first draft saw the Ministry of Justice disagreeing with some of the wording of the bill, specifically the lack of a....
Russia's Ministry of Economic Development has criticised a proposed ban on "cash equivalents", according to a report. The ministry said that legislation aimed at banning cash equivalents, including digital currencies like bitcoin, could have negative effects on retailers, telecom operators and banks. Specifically, some provisions of the bill could create excessive restrictions and obligations, creating unreasonable costs for businesses, it said. The ministry therefore asked that the bill be reworked and resubmitted for further consideration. The bill in question was drafted earlier this....