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”]