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Cryptocurrencies Bill Postponed Due To Coronavirus in Russia

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cryptocurrency in Russia

State Duma Committee Chairman Anatoly Aksakov said because of the pandemic, the adoption of the law was postponed indefinitely.

Chairman Anatoly Aksakov

According to him, the authors of the bill managed to reach a consensus regarding the legalization of cryptocurrencies. The bill on digital financial assets is ready, but its adoption will be postponed due to the coronavirus pandemic.

The document was developed by the Ministry of Finance, the Bank of Russia, the Ministry of Economic Development, representatives of power structures and market participants represented by the Russian Union of Industrialists and Entrepreneurs.

Ministry of Finance

Mining is not mentioned in the bill. The authors of the bill believe that the regulation of cryptocurrency mining is advisable only in terms of taxation. 

Aksenov believes that in the future a crypto ruble based on blockchain technology will be created. However, it will be fully controlled and regulated by the Central Bank of the Russian Federation.

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