The Ministry of Finance of Russia announced the development of two projects regarding the circulation of cryptocurrency
The Federal Ministry of Financial Policy of Russia has submitted two bills for public discussion regarding the coordination of cryptocurrency turnover:
- "About digital currency". The project is aimed at organizing a legislative framework for the implementation of activities aimed at conducting operations with virtual currencies and their production.
- Relates to certain provisions of the Decree “On Digital Currency”, if adopted.
Consideration will continue until 03/18/22. Orders will be published at the next stage.
The Central Bank of the Russian Federation, before, has already prepared its own regulatory projects prohibiting:
- issuance and circulation of cryptocurrencies;
- targeted outreach.
Penalties were imposed for non-compliance.
In contrast to the decision of the Central Bank of Russia, the Ministry of Finance of the state presented its proposal for the regulation of crypto assets and their turnover in the country.