Russia Proposes Legislation To Criminalize Unlicensed Crypto Operations
In a recent development, the Russian government has introduced a bill before its lower legislative house to criminalize the operation of unregistered crypto services in the country. Unlicensed Crypto Operators To Face Up To Four Years In Prison In a bill proposal to the lower house of the Federal Assembly of Russia, the State Duma, […]
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One of the largest news agencies in Russia, RIA Novosti, reportedtoday that the Russian Finance Ministry is preparing a bill to prohibit cryptocurrencies. “The Ministry proposes to establish a ban on the issue of money substitutes, including in electronic form. Also proposes to clarify the provisions of the law on the Central Bank of the Russian Federation, extending the ban not only on the issue of money substitutes, but also to conduct operations with them,” according to RIA Novosti, and translated by Google. “Among the possible limitations – a ban on the use of surrogates as a means of....
The debate whether Bitcoin should be banned in Russia is once again picking momentum. According to a report of Interfax, the Russian government lately approached the regulators with its plan to criminalize the use and issuance of Bitcoin under the new money surrogate law. If enacted, the amended bill will effectively impose ban on all kind of Bitcoin activities, including trading, mining and transactions. A similar bill was proposed by the Ministry of Finance in 2014. However, the text of the bill turned out to be confusing for regulators, for it never clarified the actual definition of....
Dmitry Medvedev, Russia’s former president and prime minister, has expressed his displeasure with the Central Bank of Russia’s decision to ban crypto transactions. Medvedev Pushes Against Crypto Ban The proposal by the Central Bank of Russia to exempt a variety of crypto-related operations from the legislation has caused a storm of criticism in Moscow. The […]
The Russian Ministry of Finance has developed new amendments to the country’s cryptocurrency regulation. The proposal outlines a new set of rules for crypto owners, exchanges, and miners, as well as penalties for undeclared crypto transactions. Russia’s New Crypto Regulation Russia’s Ministry of Finance has proposed new amendments to the country’s law on digital financial assets that will go into effect in January, Russian business newspaper RBC reported Thursday. Cryptocurrency owners, both individuals and organizations, will be required to report their crypto....
Russia’s Ministry of Finance has drafted a bill with harsh penalties for anyone who does not report their cryptocurrency holdings above a certain level. Penalties include jail terms and fines. New Russian Crypto Bill The Russian Ministry of Finance has sent out a new draft bill addressing the circulation of cryptocurrency in Russia to interested government departments, local news outlet Kommersant reported this week. The bill contains amendments to the Russian Criminal Code, the Criminal Procedure Code, the Administrative Code, the Tax Code, and the law on combating money laundering,....