The Central Bank of Russia, the Ministry of Finance of the Russian Federation and other interested departments will discuss the possibility of legalizing cryptocurrencies under state control in February.
In the discussion of the Central Bank of Russia and the Ministry of Finance of the Russian Federation, the Government of the Russian Federation is leaning towards strict regulation of the crypto industry in the state,
claims business edition “Kommersant”.
Behind the discussion of the Central Bank of Russia and the Ministry of Finance of the Russian Federation about digital assets, there is a dispute that has flared up between regulators, legislators, agencies and departments interested in resolving the issue of the fate of cryptocurrencies. Kommersant claims that the publication learned about the current situation from the minutes of a meeting with Deputy Prime Minister Dmitry Grigorenko. The document says that by February 11, the Government of the Russian Federation should develop bills to regulate the crypto industry and assess the potential consequences of their introduction.
The Central Bank of Russia and the Ministry of Finance of the Russian Federation (representing the consolidated opinion of the government) have not yet come to a common decision on the fate of cryptocurrencies in the country. It is likely that the above discussion will be aimed at developing a common solution.
A scenario with strict regulation of cryptocurrencies, in contrast to the ban on activities with digital assets in Russia, will enable users of cryptocurrencies to use them for profit. Undoubtedly, all transactions will pass through the banking system under the vigilant supervision of regulators and be taxed.
Users of digital assets may face criminal prosecution by the Prosecutor General’s Office and the Investigative Committee and lose their cryptocurrency during confiscation. Sooner or later, it will be an opportunity to legally earn money in the crypto industry and not go into “gray” schemes.
It will take more than one month for the Russian authorities to form a common decision regarding cryptocurrencies, said Anatoly Aksakov, chairman of the State Duma Committee on the financial market. Since each department has its own interests and threats associated with cryptocurrency. Businesses fully support the legalization of cryptocurrencies. Chairman of the Board of Sber German Gref
stated that cryptocurrencies should not be a means of payment in Russia, but stablecoins should not be banned. The founder of VKontakte and Telegram, Pavel Durov, believes that the proposal of the Bank of Russia to ban cryptocurrency transactions will lead to the decline of the country’s high-tech sector of the economy.
Source: Bits
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