Russia Backs Off the Cryptocurrency Regulation Rules
According to Elina Sidorenko, the head of the Russian parliament’s interdepartmental working group on cryptocurrencies, the country’s Parliament isn’t going to review the bill on legalization of cryptocurrencies anytime soon.
Elina Sidorenko said that the state is not in need of any laws regulating cryptocurrency operations, despite at least two versions of the bill put on the table by her group.
Moreover, the existing working group on cryptocurrencies “doesn’t see any prospect for the cryptomarket” and “is afraid to scare the market off ” by pushing its regulatory attempts.
“The best thing for now is not to write the law altogether,” Sidorenko stated.
The group is going to “observe the cryptocurrency market” within next two or three months, she added.
The law introducing cryptocurrencies to Russia’s legal terrain entered the development phase this spring. It was set to avoid any provisions on taxation and regulation of ICO. The parliament was to review the bill this fall.
- Russia’s Sberbank Conducts First Blockchain Payment Transaction
- Ukraine’s Financial Regulators Support Introduction of Regulatory Framework for Cryptocurrencies
- Chelsea Owner Roman Abramovich, Other Russian Forbes Millionaires Invest in Cryptocurrencies
- Suddenly Russia’s Central Bank Sees ICO Investment Potential
- Russian Central Bank Pushes For ‘Professional’ Miners Taxation
- Russia’s Stance Towards Cryptocurrencies Remains Ambiguous
- VTB Bank Officials Say Russia’s Appetite for Cryptocurrencies Overblown by Media
- Ukraine’s Finance Minister Says Cryptocurrencies Will Not Be Banned