Ministry of Finance supported the proposals of the Federal Security Service and the Ministry of Internal Affairs on the regulation of Cryptocurrencies

Ministry of Finance supported the proposals of the Federal Security Service and the Ministry of Internal Affairs on the regulation of Cryptocurrencies

The Ministry of Finance supported a number of proposals to finalize the bill on the regulation of Cryptocurrencies. This is reported by “Izvestia” with reference to the summary table of comments to the document.

Thus, the following proposals were supported:

At the same time, contradictions remain on a number of related issues. For example, the FSB is in favor of mandatory enrollment of digital currencies obtained by Mining in Cryptocurrency exchanges, but the Ministry of Finance does not support this proposal. Also, the Ministry of Finance rejected the FSS initiative on additional regulation of Cryptocurrencies and Mining pools, noting that “excessively detailed and rigid regulation” at this stage may cause an outflow of customers and investors. In addition, the Ministry of Finance refused to support the proposal of the Federal Tax Service to establish an accounting procedure for operations not only of Cryptocurrency exchanges, but also of Cryptocurrencies and digital currency.

Experts note that the updated version of the bill is not fundamentally different from the original one, and the changes are of a point-by-point nature and do not speak of a new approach to the regulation of Cryptocurrencies. According to Anatoly Aksakov, head of the State Duma Committee on Financial Markets, the document is expected to be submitted to the lower house of parliament in May.

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Written by Renat
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