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Thursday, 16 November 2017

Regulation For Cryptocurrency:Russia Prepares Bill

The Deputy Minister of Russia has stated that come February 1, the cryptocurrency bill would be ready.

He also revealed some details about the Bill which includes taxation and regulation of Crypto currency miners, trading restrictions on Bitcoin and Initial Coin Offerings (ICOs).

The Central Bank of Russia and finance ministry are currently working on regulations on Cryptocurrencies and ICOs.
This follows a mandate by the Russian President-Vladimir Putin- that the regulations be implemented by July next year.

The Deputy Finance minister, Alexei Moiseov said in an interview with Russia 24 Tv:

'If I’m not mistaken, the proposals
should be formulated by February 1 in
the framework of the president’s

In October,the Russian ministry also proposed that crypto miners be registered and that any transaction be licensed.
But the Tass reported Alexei saying on Wednesday;" The Ministry of Finance does not intend
to introduce licensing for the mining of
cryptocurrency but the mining will be

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