In late May Russia’s State Duma released a draft of proposed litigation toward cryptocurrencies and companies that deal with the technology. The draft called “On Digital Financial Assets,” is an updated version on how lawmakers might regulate the crypto industry in the near future.
The documents do not delve much into personal holdings, trading, and cross-border remittances, unless it is applied to startups and veteran companies that leverage cryptocurrencies. People can own bitcoin or other digital assets, but the new proposal does prohibit the widespread circulation and even evangelism when it comes to digital currencies versus the Russian ruble.
“Сryptocurrencies go completely into the gray zone in Russia,” explains Waves Enterprise representative Artem Kalikhov. “People who own one or two bitcoins are not at risk. But all cryptocurrency exchanges and wallets hosted on Russian sites with a .ru at the end are now at risk.”
Russia’s cryptocurrency laws remain in the gray zoneRead More
