Topic: Russia Temporarily Drops Plans to Criminalize Bitcoin - page 2. (Read 235 times)
Well, it’s already good that Russia has so far decided to exclude provisions on the establishment of criminal and administrative liability for the use of cryptocurrency from the draft law under consideration. However, it does not appear from the above text that Russia has refused to punish for the use of cryptocurrency, and even more so that it will be legalized. Most likely, indeed, until they agreed on how to punish for this. The bill had to be passed and left for the summer holidays. Therefore, this is only a pause, not a final decision.
Source: https://thedailychain.com/russia-temporarily-drops-plans-to-criminalize-bitcoin/
On July 19, 2020, local news outlet Ria Novosti reported that the Russian government had dropped its plans to criminalize Bitcoin’s use in the country.
Anatoly Aksakov, the head of the parliament’s financial markets committee, explained that the notion of punishing BTC investors with fines and prison terms had been shelved, for now, adding that “there will be no liability in this bill.”
Nevertheless, lawmakers can introduce a special law that will reimpose these or other sanctions during the coming fall.
However, the revised DFA bill now seeks to deal with issues around the definition of digital financial assets and establish requirements for blockchain operations.
All cryptocurrencies and mining operations remain in the gray zone.
The Russian Ministry of Economic Development informed Parliament of its rejection of the draft law banning the cryptocurrency and made it clear in its following message:
On July 19, 2020, local news outlet Ria Novosti reported that the Russian government had dropped its plans to criminalize Bitcoin’s use in the country.
Quote
As per the report, references to administrative and criminal liability for dealing in Bitcoin were left out of the current Digital Finance Asset Bill (DFA), which is due to undergo its second reading in the Russian parliament on July 21.
Anatoly Aksakov, the head of the parliament’s financial markets committee, explained that the notion of punishing BTC investors with fines and prison terms had been shelved, for now, adding that “there will be no liability in this bill.”
Nevertheless, lawmakers can introduce a special law that will reimpose these or other sanctions during the coming fall.
However, the revised DFA bill now seeks to deal with issues around the definition of digital financial assets and establish requirements for blockchain operations.
All cryptocurrencies and mining operations remain in the gray zone.
The Russian Ministry of Economic Development informed Parliament of its rejection of the draft law banning the cryptocurrency and made it clear in its following message:
Quote
on June 11, 2020, the ministry stressed the need to change the crypto bill’s text to give room for regulation plans to govern the circulation of digital currencies in Russia.
As per the letter, guidelines for allowing businesses to carry out crypto-related undertakings should also be established.
As per the letter, guidelines for allowing businesses to carry out crypto-related undertakings should also be established.
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