Published On: Sat, Jan 27th, 2018

Russia’s Finance Ministry Set To Regulate, But Not Ban Bitcoins

Russia's Finance Ministry Set To Regulate, But Not Ban Bitcoins

Russia’s finance ministry is working on legislation to regulate bitcoins

Moscow: Russia’s finance ministry said on Thursday it was working on legislation that would regulate crypto-currency transactions without fully banning them, although it would not let digital FX be used as a mean of payment in Russia.

The finance ministry said its legislation on crypto-currencies and ‘initial coin offerings’ envisages allowing such deals only through digital exchanges.

The ministry said its plan to regulate the crypto-currency market would support the budget, while a full ban on such instruments would create condition for using them for illegal purposes.

[“Source-ndtv”]