Published On: Thu, Dec 28th, 2017

Russia Preps Draft Law for Cryptocurrency Regulation

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The train has left the regulation station as Russia prepares to submit their draft law on controlling regulating the country’s booming crypto industry.
The wheels continue to turn as Russia moves forward with its plan to regulate cryptocurrencies and ICOs within the country and to provide a definitive framework for trading in the industry.
According to EconoTimes, Russia’s Finance Minister, Anton Siluanov, had this to say:
The Ministry of Finance has prepared a draft law, currently under consideration, which will determine the procedure for issuing, taxing, buying and circulation of cryptocurrency.

Crypto Will Not Be Seen as a Currency
State-operated news agency RIA Novosti has reported that the draft will be submitted on the 28th of December. Anatoly Aksakov, who is the chairman of the State Duma committee for the financial market, has said, through a rough translation, that cryptocurrencies will be known as “other properties”:
There will be a final evaluation before the presentation of the bill. [Whether it is] Bitcoin or Ether, all cryptocurrencies [will be known as] other property.

Limited ICO Investing
It’s not just digital currencies that will be getting the regulation treatment. The draft law …

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  1. DARK DARK says:

    Russia Preps Draft Law for Cryptocurrency Regulation

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