Crypto NewsEconomyRussian Official Marks July For Crypto Laws

Russian Official Marks July For Crypto Laws

A senior official from the Russian parliament touched on the latest state of cryptocurrency regulation in a statement to local media.

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Russia has been working on this for a long time, while the uncertain environment for cryptocurrency regulations in the United States continues. A senior official from the Russian parliament touched on the latest status of the draft laws in a statement to the local press.

Anatoly Aksakov, chairman of the Parliamentary Financial Market Committee, stated that the country's lower house, the State Duma, will pass legislation before it goes on summer recess.

Aksakov underlined that there is a legal basis for companies already doing foreign trade to use crypto. According to the information reflected in the press, four different regulations are waiting to pass the duma assembly.

How Will Crypto Be Regulated In Russia?

Russia's military conflict with Ukraine caused the country to be sanctioned by the whole world. Excluded from the global financial system, Russian traders sought the solution in cryptocurrencies.

While the country's central bank remains colder towards decentralized digital assets, government officials have paved the way for foreign trade companies to use crypto. However, it is still a question mark how much freedom individuals will have when it comes to crypto.

New regulations according to local sources; crypto mining, taxation and payments.

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