Patrick Thompson

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
Putin Instructs Russia to Implement Cryptocurrency Regulations by July 1

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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