Ukraine moved closer to regulating Bitcoin and other cryptocurrencies as financial instruments after head of the National Securities and Stock Market Commission (SSMCS) Timur Khromaev said the corresponding bill could be submitted for the Parliament’s consideration by the end of 2018 or early next year.
A draft bill aimed at protecting the rights of cryptocurrency owners while also regulating them in line with Russian laws was introduced to parliament in March with the biggest expectation being the legalization of cryptocurrency payments. However, as local media outlets report, the expectation of making digital currencies legal tender may not come to pass.
India virtually banned cryptocurrencies like bitcoin with the Reserve Bank of India barring regulated entities from providing services to any individual or business dealing in digital currencies.
Russia’s Ministry of Telecom and Mass Communications (MinComSvyaz) has prepared guidelines for Initial Coin Offerings (ICOs). The document, however, has already become target for heavy criticism.
Following the presentation of a drafted bill to place regulations on the usage of cryptocurrency in Russia on December 28, a list of approved cryptocurrency trading platforms is being developed by the Russian Ministry of Finance.
Ukraine’s National Bank, the National Commission for Securities and Stock Market, and the National Commission on Finance Services Market Regulation have supported the initiative to legalize cryptocurrencies in Ukraine.
Speaking at the state-owned TV channel Russia 1, the country’s finance minister Anton Siluanov has stated that bitcoin will not replace ruble for internal settlements.
Ukraine’s finance minister Oleksandr Danyliuk insists cryptocurrencies will not be banned in the country even though its legal status is yet to be determined.
Ukraine’s parliament, the Verkhovna Rada, will review an alternative cryptocurrency bill. It’s the second bill focused on cryptocurrencies in the last few days, this time registered by Sergey Rybalka, a parliament member from the Radical Party.
Ukraine’s parliament, Verkhovna Rada, will review a bill on cryptocurrency regulation. The paper has been published at the parliament’s official website.
Russia’s president Vladimir Putin has stated that introduction of digital technologies in finance shall be subject to a thorough discussion to avoid cryptocurrency-related risks.
Elvira Nabiullina, the head of Russia’s Central Bank, has once again spoken against legalization of cryptocurrencies in Russia, however, she conceded that they could create a national digital currency based on blockchain technology.