Press Release

Russian Parliament-The State Duma to Discuss Crypto Regulation Bill in next Two Months, Official States

The head of Committee on Financial Markets confirms to a local news organization TASS recently that the lower council of the Russian parliament-State Duma will detail about a draft bill on cryptocurrency regulations by the next two months.

Anatoly Aksakov, Chairman of the Committee, said that a most awaited bill on crypto resource- a term used by the Russian government to characterize crypto-related innovations is associated with activities on investment and crowdfunding platforms. The activities will be discussed in brief together, most probably in Feb. 2019, he expressed.

The timeline for prioritizing the discussion on digital resources regulations was set after a request from Vyacheslav Volodin, the executive of the State Duma. Last week, while conducting the parliament’s spring session, he asked legislators to concentrate on the digital economy bills while incorporating cryptocurrencies as well. Vyacheslav likewise proposed the suggestion for making the working group of business visionaries, experts and analysts to accelerate the advancement of the new laws.

As per a report by a Bitcoin news site, the Russian parliament passed the crypto bill in the first reading last year in May. Though, after the audit, the final form got criticism from individuals from the crypto business. The draft, which needed definitions for center crypto ideas, for example, mining and crypto money, was sent back to the initial reading stage.

The Russian Union of Industrialists and Entrepreneurs, Giant tycoon Vladimir Potanin and leader of the Russian development subsidize Skolkovo Viktor Vekselberg among its associates, has offered an option in contrast to the state draft bill on crypto. In November, the group sent its pitch to the Russian executive, Dmitry Medvedev.

Russia is additionally considering building up a blockchain bunch in Crimea to attract investors and dodge the approvals forced after the peninsula became a Russian area. Chinese investors purportedly seem responsive for the project, yet native authorities are hanging tight for crypto control to be acknowledged before moving ahead.

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