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Tag: Russia

Putin Advisor Announces New Blockchain Advocacy Group

The chief internet advisor to Russian President Vladimir Putin has announced the creation of a new association focused on blockchain and cryptocurrency, reports say. According to local news source RNS, Herman Klimenko revealed the new group – the Russian Association of Blockchain and…

Russia Prepares to Legalize ICOs

Russia is currently working on a regulatory framework to legalize Initial Coin Offerings (ICOs), local publications reported on Wednesday. This is in addition to a bill that is being finalized to recognize cryptocurrencies such as bitcoin and ether. Amending Law…

Russia’s deputy finance minister said this week that cryptocurrency purchasers in the country will be required to prove their identity under forthcoming regulations. In a month and a half, the Russian Finance Ministry will finalize proposals for cryptocurrency regulation, according to the Russian state-owned news agency TASS. The Ministry is proposing to regulate the transaction of cryptocurrencies using principles that apply to financial instruments such as derivatives. A key aspect of the regulations will be a mandate for identification of digital currency, said Alexei Moiseev, the Deputy Finance Minister. “If you want to buy any financial product, you need to show passport, fill out a contract, write that you are not an American taxpayer. The same should apply here,” Moiseev added. This position is in line with the sentiment from Elvira Nabiullina, the Governor of the Central Bank of Russia, who told CNBC in a recent interview that the country is more likely to regard the bitcoin as a digital financial asset instead of a virtual currency. And the news follows word that the Bank of Russia, the country’s central bank, is moving ahead with new rules that would recognize bitcoin and other cryptocurrencies as digital goods, with relevant tax imposed.

Russia’s deputy finance minister said this week that cryptocurrency purchasers in the country will be required to prove their identity under forthcoming regulations. In a month and a half, the Russian Finance Ministry will finalize proposals for cryptocurrency regulation, according…

Russia Eyes Legal Recognition for Bitcoin in 2018

The Russian government is reportedly looking to recognize bitcoin as a kind of financial instrument in 2018. According to Bloomberg, senior Russian officials including Deputy Minister of Finance Alexey Moiseev and representatives from the Bank of Russia (the country’s central bank)…