Russia President Vladimir Putin signals cryptocurrency regulations to take effect by July 1
|- Cryptocurrency regulations to begin this year as the President is Committed to seeing Asset Regulation Bill.
- The Central Bank wants to Criminalize cryptocurrency activities in Russia.
According to an official government publication Parlamentskaya Gazeta, the President of Russia, Vladimir Putin, crypto regulations will commence in the county by July 1, 2018. The President is committed to releasing the regulations that will be contained in a packaged called Assets Regulation Bill.
The package is set to set clear guidelines on cryptocurrency activities and will end years of uncertainty in the market. Russia has been making progress in cryptocurrency regulation, for example, last month a court in St. Petersburg annulled a law that was put in place to stop distribution of materials spreading education on Bitcoin.
On the other hand, legislators in Moscow are working on coming up with laws to govern Initial Coin Offerings. The government publication, Parlamentskaya Gazeta reports that the Central bank is routing for the criminalization of the ICO tokens while the Ministry of Finance rather is opting for regulation.
Parliamentary finance committee chairman, Anatoly Aksakov said in an appraisal discussion, “The central bank has come out against the legalization of this kind of digital currency since citizens could then actively invest in instruments without considering possible risks.”
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