Russia’s Finance Ministry drafts legislation that would regulate Bitcoins and other cryptocurrencies

Source: Meduza

Russia’s Finance Ministry has developed draft legislation that would introduce regulations on the issuance and circulation of cryptocurrencies. The plan would allow the buying and selling of cryptocurrencies (using rubles or foreign currency) through special companies designed to facilitate the exchange of digital financial assets.

Individuals would be allowed to buy “tokens,” which the companies would deposit into special accounts. Each acquisition of tokens would be limited to 50,000 rubles (about $900). The legislation would also make it illegal to pay off any debts in cryptocurrencies.

Russia’s Central Bank has expressed some opposition to the Finance Ministry’s initiative, arguing that exchanging cryptocurrencies for rubles or other money should only be allowed with tokens that are issued to attract financing.

As in most countries, the issuance and circulation of cryptocurrencies is currently unregulated in Russia. In 2016, the Finance Ministry proposed criminalizing the issuance of cryptocurrencies, but the initiative never got off the ground.

Why is it
important
to support
Meduza
now?Read here

Russia’s Finance Ministry drafts legislation that would regulate Bitcoins and other cryptocurrencies

{{ header_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{#is_light}}{{ title }} {{ second_title }}{{/is_light}}{{^is_light}}{{ title }} {{ second_title }}{{/is_light}}

{{ title }}

{{ title }}

{{ title }}

{{ title }} {{ second_title }}

{{ title }}

{{ second_title }}

Russia’s Finance Ministry drafts legislation that would regulate Bitcoins and other cryptocurrencies

{{{ alt }}}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{ title }} {{ second_title }}

{{#is_light}}{{ title }} {{ second_title }}{{/is_light}}{{^is_light}}{{ title }} {{ second_title }}{{/is_light}}

{{ title }}

{{ title }}

{{ title }}

{{ title }} {{ second_title }}

{{ title }}

{{ second_title }}