Media: Ministry of Finance finalizes the bill on digital currencies and Blockchain

Ministry of Finance of Russia finalizes the bill on digital currencies and Blockchain

The Russian Ministry of Finance completed an edited version of the bill on the regulation of relations on the Cryptocurrency market.

This document was finalized taking into account the comments and recommendations of the law enforcement agencies, as well as the Ministry of Finance, the Ministry of Economic Development and the Federal Tax Service.

As the newspaper Vedomosti specifies, April 18, the government considered the options for the use of digital currencies. However, the Bank of Russia, which is categorically against any use of bitcoin and other virtual currencies, did not participate in the discussion.

Deputy Prime Minister Dmitry Chernyshenko prepared a letter to Prime Minister Mikhail Mishustin, in which he listed the main points of the edited bill.

In addition to the regulation of Cryptocurrencies, the Ministry of Finance expects to legalize Blockchain technology and allow its use in public administration and business.

In addition, the Ministry proposes to allow mutual settlements with foreign suppliers of goods and services in Cryptocurrency. This will allow bypassing Western sanctions.

Exchanges and exchange services registered in a special register will have to cooperate with law enforcement agencies.


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Written by Renat
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