Finance Ministry and Bank of Russia tasked to draft legislation regulating cryptocurrency transactions.
among Russian institutions, most of which favor regulation over prohibition, and dismiss its concerns over financial stability.
Russia’s financial watchdog, Rosfinmonitoring, the Federal Tax Service, the Ministry of Economic Development, the Ministry of Internal Affairs, the Federal Security Service, and the Prosecutor General’s Office also took part in the discussions. The Russian government emphasized: The implementation of the concept will ensure the creation of the necessary regulatory framework, will bring the digital currency industry out of the shadows and create the possibility for legal business activities.Quoting the minutes from a meeting hosted by the government, the business news portal RBC reported that Deputy Prime Minister and Chief of Staff, Dmitry Grigorenko, has approved the regulatory.
At the core of the finance ministry’s proposal is the requirement to conduct all crypto-related operations through domestic banks. At the same time, the department also wants to authorize foreign digital asset exchanges to operate in the Russian market, if they open an office or register an entity in the Russian Federation.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
White House approves plan for US troops to help Americans leave Ukraine if Russia invadesThe White House has approved a plan presented by the Pentagon for the nearly 2,000 US troops in Poland to help Americans who may try to evacuate Ukraine if Russia invades, according to two US officials familiar with the matter
Read more »
Russian government and central bank agree to treat Bitcoin as currencyCryptocurrency transactions of more than 600,000 rubles (roughly $8,000) will have to be declared; otherwise, it could be considered a criminal act.
Read more »
Russia to License Crypto Exchanges, Tax Large TransactionsThe Russian government has persuaded the country's central bank to drop its proposal for a crypto ban and sign up to a framework for regulation. By baidakov.
Read more »
BlackRock Planning to Offer Bitcoin Trading: ReportThe world’s largest asset manager is reportedly planning to offer bitcoin and cryptocurrency trading to its investor clients.
Read more »
Indian Government 'Constantly Monitoring' Crypto Sector, Says Finance Minister – Regulation Bitcoin News“We have a team of people who are constantly monitoring, watching the crypto sector and listening to people from that area,” said India’s finance minister. cryptocurrency bitcoin $BTC
Read more »