Russian crypto lobby group appeals to finance ministry to soften legislation
A crypto advocate group in Russia is lobbying for more friendly federal crypto law. Major cryptocurrency advocates in Russia are opposing the government’s stringent approach to regulating the crypto industry.The Committee on Blockchain Technologies and Cryptoeconomics, whose ranks include executives from major crypto exchanges Binance and OKEx, has called on the state to soften regulations that could potentially harm the crypto industry.The committee told Cointelegraph on Dec. 9 that its members have sent their feedback to the Ministry of Finance regarding a new bill on the taxation of....
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The Russian Ministry of Finance has proposed the adoption of two pieces of legislation aimed at regulating cryptocurrencies. The drafts will be presented for public discussions expected to continue until March 18. Media reports have revealed that Bank of Russia has been working on alternative bills. Russian Ministry of Finance to Open Consultations on New Crypto Legislation Russia’s finance ministry has started drafting two new bills to comprehensively regulate cryptocurrencies and related activities in the country. The treasury department proposes a new law “On Digital....
Russia's Ministry of Finance has proposed legal amendments that would relax planned tax requirements for crypto holders if passed.
According to Russian crypto advocates, the existing laws “do not meet the needs” of the cryptocurrency market. A group of Russian lobbyists led by the law firm Digital Rights Center has launched a new campaign against regulatory initiatives that they feel are impeding cryptocurrency adoption in the country.The group has created a platform designed to help resist the adoption of laws that hamper the turnover of cryptocurrencies and digital assets in Russia, Digital Rights Center announced Tuesday. Other founding members of the initiative include the Commission on Blockchain Technologies and....
The Russian government considers bitcoin as a payment option for small business transactions, not for oil exports, the country’s finance ministry has indicated. A top official emphasized the department means that cryptocurrencies may be used in barter deals, but not as legal tender. Crypto Payments Not for Russian State Settlements, Ministry of Finance Says Cryptocurrency payments, in terms of international transactions, are seen by the authorities in Moscow as an alternative option for small private business contracts, but this will not affect Russian oil deliveries. The....
Russian authorities have gone back on their idea to penalize whoever is caught in bitcoin operations in the country, says a report by Russian news agency Interfax. Though Interfax referenced unnamed sources close to the Russian government’s financial departments, it suggested that representatives from the country’s Ministry of Finance, central bank, and other government bureaus are increasingly supportive of this action. The Finance Ministry had planned to submit legislation in May that would punish those who use digital currencies with fines as high as $38,000 and jail sentences of up to....