Russia is developing new crypto laws

Recently, the Ministry of Russia has put forward 2 new laws on the regulation of virtual assets. The projects involve the regulation of crypto assets according to the Treasury concept. The Central Bank also proposes to prohibit banks and financial institutions from holding cryptocurrency on their accounts as a means of payment. At the same time, the Bank of Russia is developing its own project to eliminate the issuance and circulation of crypto on the territory of the Russian Federation. Fines in the amount of $13,000 will be imposed on this project for its violation. Such uncoordinated actions indicate that Russia does not yet have a clear strategy for regulating cryptocurrencies.

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