Russia has prepared a draft law on crypto-currencies

The Russian ministry of Finance drafted on Friday a new draft law on crypto-currencies, in the hope that the state Duma adopts it. If this device is applied, Russia will be able to go further in the trade of digital currency. This bill will allow to legalize crypto-currencies.

Here are the details of this bill :

In this new measurement, it is indicated that the virtual currency is not a medium of payment allowed in the country. Therefore, the digital currency will not be considered as a currency. The notice of the ministry of Finance and reflects the position expressed last year by the president of the central Bank, Elvira Nabiullina.

A law for the crypto-currency this year in Russia

The Russian government has promised that it was going to put in place mechanisms to regulate the market of the virtual currency this year. The objective of this bill is to define the scope of action and the regulation of crypto-currencies, and not their prohibition, said Anti Danilevski, CEO of KickICO, a company specializing in the technology Blockchain. The company has raised more than $ 80 million in 2017 in an ICO.

Source : Arek Socha, Pixabay. Russia is drafting a law to regulate crypto-currencies.

In 2014, the Russian central Bank has called the Bitcoin as a fraud, and said that this solution was used to launder money. Danilevski said that for them, as a company, it is important to act legally… So once they have a better idea of the rules, this will launch their ICO in Russia, instead of doing it in other countries.

The actors in the sector must operate within the law

The bill deals with various matters related to the activities of crypto-currencies. Thus, this device also defines the mining of Bitcoins, the exchanges of the digital currency and the ICO. The ministry of Finance wants in addition to allow the trading of digital currencies on the platforms that have licensed.

People who are not registered as investor qualified are not permitted to invest that $ 900 in the offices of the country.

Source : Forbes