Russia: Vladimir Putin Signals Obligatory Cryptocurrency Regulation Will Begin July 1

Russia: Vladimir Putin Signals Obligatory Cryptocurrency Regulation Will Begin July 1
Russias cryptocurrency bill should debut no later than July 1, president Vladimir Putin has stated.

Russias president Vladimir Putin has signalled cryptocurrency regulation in the country should become law by July 1 this year, according to the official government publication Parlamentskaya Gazeta Feb. 28.

Putin has set in stone the release date for a regulatory package, now called the Digital Assets Regulation Bill, which first appeared last year.

Its introduction will end years of uncertainty in which cryptocurrency - along with investors corporate and private - lay in a gray area, with local authorities in Russia taking various contradictory moves to decide which aspects of it were and were not legal.

Last week, a court in St. Petersburg annulled a law enacted in July 2017 which suddenly banned the distribution of educational materials related to Bitcoin.

Operation of cryptocurrency markets is linked to specific risks, and nationwide regulation of this arena is therefore essential, parliamentary finance committee chairman Anatoly Aksakov said in an appraisal during a discussion late February.

At the same time, lawmakers in Moscow are currently preparing ICO and crowdfunding laws, some key details of which continue to cause friction between the central bank and government ministers.

According to Parlamentskaya Gazeta, the Central Bank of Russia specifically wishes to criminalize ICO token investments, while the Ministry of Finance (MinFin) wants regulation.

The central bank has come out against the legalization of this kind of digital currency inasmuch as citizens could then actively invest in instruments without considering possible risks, Aksakov commented on the ongoing deadlock.

07.03.2018 / 04:30 92
Putins Orders: Russia Prepares to Legalize Cryptocurrency Markets by July 2018 Putins Orders: Russia Prepares to
Russian authorities are planning to pass new legislation that would effectively legalize cryptocurrency markets by summer 2018. As revealed in a
Russian Supreme Court to Decide the Fate of Bitcoin Sites Russian Supreme Court to Decide the
The Supreme Court of Russia has taken upon itself the responsibility to decide a case that may become a precedent for the crypto sector . The highest
Kaliningrad Offers Tax Breaks to Attract Bitcoiners Kaliningrad Offers Tax Breaks to
Crypto regulations have not been adopted in Russia yet, but a string of words and deeds suggests that Moscow may take full advantage of the
Mexicos Cryptocurrency Regulation Awaits Presidential Signature Mexicos Cryptocurrency Regulation
Cryptocurrency will see official regulation in Mexico once its president signs it into law, reports say. Mexico is just one signature away from
Russia Eyes Summer Deadline for New Cryptocurrency Laws Russia Eyes Summer Deadline for New
Russia is reportedly hoping to pass long-discussed new cryptocurrency legislation by this summer. Published today, a report from Russia's Parliament
Mexican Lawmakers Pass Cryptocurrency Regulation Bill Mexican Lawmakers Pass Cryptocurrency
Lawmakers in Mexico have reportedly advanced a bill that was drafted to regulate fintech, including cryptocurrencies, in the country. According to
Comments (0)
Add a comment
Comment on