According to its deputy chairwoman, Olga Skorobogatova, Russia’s central bank is in the process of drafting legislation to legally recognize and monitor digital currencies. The preliminary draft regulation could be presented to the Russian State Duma, the lower chamber of the Russian Parliament, as soon as June, Skorobogatova was quoted as stating by Interfax.
Skorobogatova’s comments coincide with statements that represent a complete U-turn by Russia’s deputy finance minister Alexei Moiseev in April. The official, who notably led the effort to ban and criminalize bitcoin activity in Russia since 2014, revealed that authorities could recognize and regulate bitcoin in a legal capacity in 2018. More specifically, he revealed the state’s wish to ‘monitor’ bitcoin transactions, which would see the local cryptocurrency industry being regulated.
Russia’s central bank plans to tax bitcoin, deem it a “digital commodity”Read More
