Published: 26.04.2022
Article reading time:
2 minutes.
State Duma Deputy Andrey Lugovoy said that the new version of the bill on the regulation of cryptocurrencies involves vesting the Federal Tax Service (FTS) with the functions of a regulator instead of the Bank of Russia.
On April 20 and 21, the 7th international forum Blockchain Life 2022 was held in Moscow, which brought together more than 7,000 participants. Among the guests invited to the forum was Andrey Lugovoy, First Deputy Head of the State Duma Committee on Security and Anti-Corruption, Deputy Head of the Working Group on Digital Assets Regulation. In his speech, he said that a new version of the cryptocurrency regulation bill could be published before the May holidays.
“Today, both the government and the State Duma are moving in the same direction and as a single team. This means that we conceptually support each other,” he said.
According to the deputy, the experts of the working group on the issue of legislative regulation of cryptocurrencies plan to amend the bill from the Ministry of Finance and submit an updated document in about 2-3 days. Among the proposals is the empowerment of the Federal Tax Service with the functions of the regulator of the cryptocurrency market instead of the Central Bank.
According to Lugovoi, it is advisable to make the FTS the regulator of the cryptocurrency market, if only because digital assets are recognized as property from the point of view of judicial practice. For the first time, the parliamentarian voiced his position against granting such functions to the Bank of Russia, speaking at a meeting of the expert council of the working group.
“If we proceed strategically in terms of regulation, then we have only one adversary – the Central Bank. The more we involve him in these issues, the more difficult it will be for us to negotiate with him,” Lugovoi explained.
Earlier, Andrey Lugovoy, deputy working group on regulation of digital assets, criticized the proposal of the Association of Banks of Russia (ADB) to apply criminal prosecution of citizens who store digital currency on non-custodial wallets.
Source: Bits
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