Anatoly Aksakov: Russia can legalize cryptocurrencies under strict control

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Anatoly Aksakov, head of the financial market committee, compared the hype in the cryptocurrency market with “gambling addiction”. About this he wrote on your telegram page. According to him, cryptocurrency in Russia will sooner or later be legalized, but only under strict regulation.

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“I compare cryptomania with gambling: the phenomenon exists, there are those who want to take risks – well, take risks for your health, but under strict regulation and control,” he wrote.

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When exactly in Russia a clear framework for the circulation of cryptocurrencies will be introduced, it remains unclear, however, Aksakov believes that in the autumn the legislative process “will go more actively in this direction.”

Earlier, Aksakov proposed a bill introducing penalties for the illegal issuance and circulation of digital financial assets (DFA). According to the details, non-compliance with the requirements of the CFA law is proposed to be subject to a fine in the amount of ₽3,000 to ₽5,000. For officials, the amount of the fine increases from at least ₽20,000 to ₽30,000, and for legal entities – from ₽500,000 to ₽700,000.

Meanwhile, the State Duma in the third reading adopted amendments to the Tax Code, relieving issuers of digital financial assets from paying value added tax (VAT). If earlier a rate of 20% was offered for cryptocurrencies, now it has been reduced to 13% for Russian companies and 15% for foreign ones. However, the bill still has to be considered by the Federation Council and signed by the President of the Russian Federation.

Earlier, Aksakov advised not to wait for legislative clarity on cryptocurrencies in the near future, since there are “suspicions in the State Duma that the American intelligence services largely control this [крипто] market”. He added that “there is no desire to fall under their invisible or visible eye when carrying out financial transactions.”

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Source: Cryptocurrency

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