Putin Instructs Russia to Implement Cryptocurrency Regulations by July 1

The Central Bank prepared a bill that establishes the legal framework for an ICO and the Ministry of Finance has prepared a bill that regulates crypto

Thu, 1/03/2018 - 13:49

Putin Instructs Russia to Implement Cryptocurrency Regulations by July 1

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Vladimir Putin has instructed Russia to implement cryptocurrency policies and regulations by July 1, 2018. On Feb. 26th the chairman of the State Duma Committee on Financial Markets, Anatoly Aksakov, started the discussion with the Moscow Arbitration Court by mentioning that the cryptocurrency market is associated with a particular set of risks and that to eliminate these risks, state regulation of the cryptocurrency industry is necessary. So far, two bills have been drafted in Russia regarding cryptocurrency. The Central Bank has prepared a bill that establishes the legal framework for an Initial Coin Offering (ICO) and the Ministry of Finance has prepared a bill that regulates cryptocurrency, the launch of an ICO and mining.

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Patrick Thompson

Patrick Thompson is a freelance writer who has written for several publications in the past about a vast range of topics. Thompson is an Economics & Philosophy major at Rutgers University, where he is currently completing his senior year; upon graduating, Thompson plans to go to law school. Thompson is currently the