- Russian lawmakers are looking to impose a fine for any mining of cryptocurrencies by the end of June.
- It was noted that that mining, organizing issuance, circulation, creating exchange points for these tools will be prohibited.
The State Duma, Russia’s parliament, is at present considering introducing an administrative responsibility for the mining of cryptocurrencies, according to local news outlet TASS.
In a recent interview via the noted news outlet, the chairman of the State Duma Committee on the Financial Market, Anatoly Aksakov, he commented on the intentions of Russian lawmakers, stating:
I note that any operations with cryptocurrency that are contrary to the Russian legislation will be considered illegitimate. This means that mining, organizing issuance, circulation, creating exchange points for these tools will be prohibited. Administrative liability in the form of a fine will be incurred for such actions. We believe that cryptocurrencies created on open blockchains such as bitcoins, ethers, and others are illegitimate tools.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.