Cryptocurrencies in the Russian Federation will be taken under “serious control”

russia cryptoregulations
russia cryptoregulations

Digital assets will be legalized in Russia, but the authorities will tighten supervision over the industry. This was stated by the chairman of the State Duma Committee on the financial market Anatoly Aksakov, writes TASS.

“Cryptocurrency will be legalized. Her movement, obviously, will be under serious control so that there is no abuse, ”he explained.

Aksakov noted that many users of digital assets are “looking forward” to the approval of the bill. According to him, the State Duma will adopt the document in final readings in October.

July also sees the approval of four laws related to digital assets.

“Cryptocurrencies want to be legalized faster. […] They are ready to work in a legal space, because […] [иностранные финансовые организации] sometimes they are afraid to interact with Russian banks and make settlements with Russia,” Aksakov added.

Earlier, Deputy Finance Minister Alexei Moiseev announced the possible appointment of the Federal Tax Service as the regulator of digital assets in the Russian Federation.

On April 14, the Cabinet of Ministers submitted to the State Duma a bill on taxes on operations with cryptocurrencies. The document does not affect their taxation – it will be written separately.

Recall that in March, the Ministry of Finance of the Russian Federation introduced into the bill regulating the production of bitcoin, a provision on criminal liability for refusing to declare digital assets.

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