A court case in Russia has signaled a change in the attitude authorities have towards the cryptocurrency space, at least on first glance. After prosecutors gave up their efforts to block the website – citing the upcoming Russian legislation meant to regulate Bitcoin – Bestchange.ru will be allowed to restore normal operations. This online portal helps traders find the best exchange options for their digital assets.
The draft legislation is amending the country’s Civil Code to include crypto-related terms such as “digital rights” and “smart contracts.” On March 12 this year, the amendments were adopted on third reading in the Duma, the lower house of parliament, but will not enter into force until October.
Another bill that has been referred to by the prosecutors is the law “On Digital Financial Assets.” It was introduced in May 2018, then edited and postponed multiple times with its adoption finally scheduled for the 2019 spring parliamentary session. Basic terms such as “cryptocurrency” and “mining” have been added to the texts and deleted more than once.
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