OTCbid - Russia’s finance ministry introduces new bill recognizing Bitcoin solely as an investment vehicle
" Russia has approved to introduce a bill that would regulate cryptocurrencies instead of banning the new asset class. The Russian finance ministry has submitted a draft bill on Bitcoin regulation, which considers cryptos solely as an investment vehicle.
Russia requires crypto investors to complete testing procedure
There has been an intense dispute between the Bank of Russia and the Ministry of Finance over the past few weeks, as they hold opposing views on cryptocurrency regulation in the country.
The Bank of Russia has insisted on banning the new asset class, stating that there are investor risks posed by cryptocurrencies. The finance ministry has strived to incorporate digital assets into a legal framework.
The Russian government gave the finance ministry the green light to propose a bill to regulate digital assets last week as President Vladimir Putin has highlighted the advantages of Bitcoin mining in the country.
According to the statement, the Ministry of Finance will have several restrictions for citizens who are interested in investing in Bitcoin, including identification requirements and custody arrangements." - Read Full Article
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