Russia Advances On Efforts To Regulate Bitcoin, Crypto
The Ministry of Finance suggested letting banks sell bitcoin while the Chamber of Commerce thinks mining should become an established business.Efforts to welcome bitcoin in Russia with clear regulation keep growing with the Ministry of Finance and the Chamber of Commerce and Industry being the latest two entities voicing their suggestions despite the central bank’s continued hard line.Russian Minister of Finance Anton Siluanov sent a letter to Prime Minister Mikhail Mishustin on Wednesday reiterating the ministry’s inclination to regulate, instead of ban, cryptocurrency trading and mining....
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Authorities in Russia are discussing two very different approaches to the regulation of cryptocurrencies and related activities. While the Bank of Russia is reportedly seeking to introduce a ban on buying crypto assets, lawmakers are moving forward with efforts to adopt rules for mining, exchange, and taxation that would effectively legalize cryptocurrencies.
Russian Officials Debate Over Alternative Crypto Regulations
Russian institutions, including the central bank and the lower house of parliament, the State Duma, are mulling over how to put the country’s growing....