Deputy Chairman of the State Duma Committee on Information Policy Anton Gorelkin stated that the provision banning the organization of cryptocurrency circulation in Russia has been removed from the text of the bill that the lower house of parliament is going to adopt.

Anton Gorelkin clarified that the text of the bill retains the ban on advertising digital assets.

“The Financial Market Committee discussed amendments to the draft law on mining. We managed to cancel the provision banning the organization of cryptocurrency circulation, which in its current version caused quite serious concerns among industry representatives and a number of experts.”

The ban on free circulation primarily means a ban on creating crypto exchanges and crypto exchanges.

According to the deputy, the committee will recommend that the chamber adopt in the second reading another bill legalizing the use of cryptocurrencies for international settlements within the framework of the so-called experimental legal regime (ELR).

Both bills should be adopted in the very near future. In the first reading, the bills on the regulation of mining and circulation of cryptocurrencies, as well as on experimental calculations in cryptocurrency were adopted by deputies on Wednesday, July 24.

Earlier, the Russian State Duma adopted in the final, third reading a bill requiring miners to comply with anti-money laundering legislation.