Russia’s finance ministry is working on a draft bill to legalize cryptocurrencies

Russia’s finance ministry is working on a draft bill

to legalize cryptocurrencies including bitcoin, which is expected by the end of the year. Both the finance ministry and the central bank “are developing proposals on their legalization in the Russian Federation.” The Finance Minister proposes treating cryptocurrencies like federal loan bonds, available to individuals.

Ministry of Finance’s Draft Law

The Russian Finance Ministry is drafting a bill to regulate the circulation of cryptocurrencies, said the Finance Minister Anton Siluanov in an interview aired on “Russia 1” TV channel on Saturday. The Russian state-owned news agency Tass quoted
him saying:

All countries are working to legislatively regulate the use of this financial instrument, and the financial instrument is very volatile, that is, today it has one price, tomorrow another. In order for us not to have so-called deceived investors, regulation is necessary. The Ministry of Finance will prepare such a draft law by the end of the year.

Source:  https://markethive.com/group/cryptocoin/blog/russias-finance-ministry-drafts-law-to-legalize-cryptocurrencies