Russian government is working on various regulatory scenarios for cryptocurrencies.
Russian Government to Present Regulatory Scenarios for Cryptocurrencies Within a Week, Report
The federal government of Russia should be ready with different regulatory scenarios for the country’s crypto market by the end of next working week, documents from a recent meeting have indicated. The executive power in Moscow favors regulation over the prohibition of cryptocurrencies and related activities.The Russian government, which is hosting the ongoing debate on the future of decentralized digital money in Russia, is going to produce alternative scenarios for crypto regulation by Feb.
Most government institutions, including relevant ministries, have supported the approach suggested by the treasury department. If it is adopted, Russians owning digital coins will be able to operate with them as with investment assets under the watchful eye of the government, make transactions through Russian banks and pay taxes.published last month.
According to Siluanov, Russian citizens have 12 million crypto wallets with coins worth around 2 trillion rubles . However, knowledgeable sources quoted by Bloomberg have recently that the government is also working with a much higher estimate, according to which Russians own $215 billion in cryptocurrency.
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