russia bitcoin ethereum

Russia has recently released plans to introduce several bills for consideration to the national legislature regarding cryptocurrency. A meeting happening towards the end of December may be a large determinant for the future of digital currency in the country. Several media sources within the country have cited comments from the lawmaker, Anatoly Aksakov. Aksakov is one of the chairs for the State Duma’s financial market committee, which puts legislation for several economic policies. The market committee may be the one to create the actual legislation for cryptocurrency and the exchange of such within the country. “I expect that the adoption of the draft law on [cryptocurrencies] will be in March…

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The problem is that we already have a lot of people who acquire [cryptocurrencies] and they are deceived, we need to give people the opportunity to work legally with it, to protect them as much as possible,” Aksakov was quoted as saying by RIA. The comments from the Russian official show that Russia won’t have any bill finished by the end of the year, but that bill could effectively be introduced to the country’s legislature by that time. The measures have been met with a series of delays due to the differing opinions on the subject. With Putin’s opinion on the subject quite clear, it looks as though regulation may be imminent.

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Aksakov stated that “we have deadline designated by the president, and after a week there will be a presentation of the bill that will start to be debated.” With cryptocurrency becoming on the largest emerging market in the financial world, it will be interesting to see what Russia does in response to this new fad. The hopes are high that Russia can become a place where investors interested in cryptocurrency go to invest, but only time will tell.


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