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Friday, 12 January 2018

Ahead of World Cup; Russia set to Legalize Use of CryptoCurrency

Russian Ministry of Finance is drafting a bill to legalize cryptocurrency trading at approved exchanges. The ministry is already preparing a list of approved trading platforms.

The Russian Deputy Finance Minister Alexei Moiseev told reporters that his ministry “supports the legalization of trade in crypto-currencies on official exchanges,” RNS reported on Thursday.

“We do not want to limit and regulate, but we will set some limits,” he emphasized, adding that “nothing will happen” to those already possess cryptocurrencies, the publication conveyed. The deputy minister was further quoted saying:
This is about thefact that buying and selling [of Cryptocurrencies ] will be somehow standardized. The general idea is that it will be necessary to buy and sell on official exchanges, as it will be legalized. 
 The bill to regulate cryptocurrency and ICOs in Russia is expected to be adopted in March, according to the chairman of the State Duma Financial Markets Committee, Anatoly Aksakov. President Vladimir Putin has mandated the regulatory framework for both cryptocurrencies and ICOs be finalized by July 1 of next year.

See Also: Crypto-Ransom!:Russian Bitcoin Expert Released After Paying Heavily

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