Russia’s National Finance Association Calls for Legalization of Crypto Invest...
The main finance industry association of Russia has urged authorities to reconsider a position against crypto investments in the nation’s financial market strategy. The organization insists that the crypto investments of Russians should be brought out of the “gray zone” instead of being banned. Finance Industry Body Urges Government to Regulate Operations With Crypto Assets The Russian National Financial Association (NFA) has issued a call to amend the country’s Strategy for Development of the Financial Market of the Russian Federation Until 2030 in....
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The Russian Ministry of Finance is ready to back the legalization of transactions with stablecoins in Russia, according to a high-ranking representative. While the ministry recognizes that cryptocurrencies could lay the ground for a new financial system, the department is unsure if it will be better than the current one. Russia’s Minfin Open to Legalizing Stablecoins if Business Needs It The Ministry of Finance of the Russian Federation (Minfin) generally supports authorizing the circulation of stablecoins in the country, according to Ivan Chebeskov, director of the....
Russia’s Deputy Director of the Federal Financial Monitoring Service just revealed that discussions are underway between the Central Bank and the Ministry of Finance regarding a national cryptocurrency. Russia’s Own Crypto on its Way? Deputy Director of the Federal Monitoring Service, Pavel Livadny, says that Russian citizens will be able to purchase the....
The Central Bank of Russia is testing a number of digital currency pilots toward the development of a national digital currency. Speaking at the 2017 St. Petersburg International Economic Forum today, deputy chairwoman of Russia’s central bank Olga Skorobogatova has, in a significant revelation, stated that the regulator is working on a national digital currency. According to a report by TASS, Russia’s largest news agency, Skorobogatova sees national cryptocurrencies as the future and claimed that it’s merely a matter of time before countries around the world adopt national digital....
Russia’s Ministry of Finance (MinFin) has proposed jail sentences for the use of cryptocurrency, strengthening its opposition to the technology. According to a press release, those found guilty of using so-called “money surrogates” could face up to four years in prison. Current sentences are limited to a fine of up to 500,000 rubles or 2 years’ community service. The latest revision to the law has received the support of the Ministry of Economic Development and will be put before the Duma in the coming months, finance journal Vesti reports. “The use of money surrogates, including....
Boris Titov, the leader of Russia’s Party of Growth, called for the country to legalize cryptocurrencies like bitcoin and become a leader in blockchain development, according to Tass, a Russian news agency. Speaking at a press conference, Titov also said Russia can take advantage of its difficult economic situation to embrace blockchain technology as a way to become a very profitable country. The Path To Progress. The first step is to create a transparent legal system for the cryptocurrency. Titov said the country should create opportunities for foreign investors to invest in bitcoin by....