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Thursday, 22 February 2018

Russian Authorities and Crypto Investors in state of Dilemma over CryptoCurrency

Russian authorities over bitcoin

Crypto investors in Russia holds on breath as the fate of CryptoCurrencies in the state is still undecided.

The fact of the matter is that Russian authorities have not yet decided what to do with cryptocurrencies like bitcoin.

The Central Bank of Russia has insisted on banning the circulation of CryptoCurrency in the country, quoting concerns over money laundering.

However, the draft presented by the Finance Ministry in January states that citizens can buy and sell cryptos and tokens on licensed platforms, like cryptocurrency exchanges.

The chairman of the Financial Market Committee in the Duma Anatoliy Aksakov said its members were trying to speed up the legal process, RIA Novosti reported. “We have two bills, on digital financial assets (cryptocurrencies) and on crowdfunding (ICOs), which are ready. We are closely working with the government and the Central Bank to quickly take the necessary decisions in the Duma”, Aksakov stated.

Do you think Russian authorities will adopt the cryptocurrency regulations on time? Tell us what you think below. And subscribe to our newsletter for more latest updates. 

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