Crypto NewsNewsCrypto Regulation Discussions Continue In Russia

Crypto Regulation Discussions Continue In Russia

Regulatory discussions continue in the Asian country, where the crypto money industry is growing rapidly due to sanctions.

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Cryptocurrency regulation discussions continue in Russia, which has been severely sanctioned by Western countries and the United States due to the Ukraine war. While the officials of the country's Central Bank and the Ministry of the Treasury could not reach consensus for a long time, Attorney General Igor Krasnov also expressed his own ideas.

Speaking to the local press recently, Krasnov emphasized that crypto startups serving in the country should be registered and share all user information with law enforcement. According to the Attorney General, simply giving cryptocurrencies a property is not enough to fight crime.

Citing the article shared by the country's fiscal authority, the attorney general is concerned about security vulnerabilities arising from digital assets due to their geopolitical position.

New Arrangement Proposal from the Attorney General

Russian state official Igor Krasnov touched upon some of the gaps in criminal laws concerning cryptocurrencies. Krasnov explained that the necessary laws should be added to the criminal code so that digital assets can be confiscated when a crime is committed.

While a total regulation in the country is still under discussion, crypto miners are on the agenda. According to the new bill discussed in the State Duma, miners who do not declare their digital assets will be sanctioned.

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