The Russian authorities propose to focus on ICO regulation, rather than on cryptocurrency trading. They have decided not to legalize cryptocurrencies in Russia, while ICOs will have to officially register their obligations.
Deputy Finance Minister Alexey Moiseev revealed the way Russian authorities are planning to regulate cryptocurrency market in Russia.
“If you remember, there was such a public discussion between us [the Finance Ministry] and the Central Bank. We thought that people could be allowed to buy and sell [cryptocurrency] to qualified investors on licensed platforms. The central bank did not think so. The discussion resulted in the fact that the idea of the Central Bank gained support. Therefore, it is not supposed to allow people to buy and sell bitcoins as investment instruments,” Moiseev said in an interview with Rossiya 24.
Later, he explained that there is no plan to introduce a direct ban on cryptocurrency trading:
“We simply do not legalize directly this activity.”
According to the official, the main provisions of the future Russian cryptocurrency bill have already been determined…
Read Full: Russia reveals its future cryptocurrency regulation
