Russia Submits First Bitcoin Bill Proposal

Russia Submits First Bitcoin Bill Proposal

Russia’s Ministry of Finance has submitted a draft invoice on Bitcoin regulation within the nation, weeks after the federal government permitted the idea of making laws particularly for cryptocurrencies.

“The usage of digital currencies as a way of fee on the territory of the Russian Federation will proceed to be prohibited,” the Ministry of Finance mentioned in a statement Monday. “Underneath the proposed regulation, digital currencies are thought-about solely as an funding car.”

The draft invoice comes after an intense dispute between the Financial institution of Russia and the Ministry of Finance, which maintain opposing views concerning the optimum way forward for bitcoin and cryptocurrency regulation within the nation. Whereas the ministry has strived to accommodate the burgeoning expertise right into a authorized framework, the central financial institution has referred to as as soon as and once more for a whole ban on the buying and selling and mining of bitcoin.

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