Russian Ministry of Finance May Allow Cryptocurrency Trading

Russia may allow trading of cryptocurrency, according to a report by Interfax, a Russian news service. The Russian Ministry of Finance is considering the issue as of June 21.

The Deputy Minister of Finance, Alexei Moseyev said that crypt trading may be allowed as part of a coming bill. This follows a bill that prohibited crypto from being used as payment in 2018. This decision is being labeled a compromise. It had been recommended by the Financial Action Task Force to regulate the circulation of crypto.

It is expected that this latest bill will be adopted in the next couple of weeks as part of the Digital Financial Assets bill. Separate legislation called for initial coin offerings and is part of the law of the country on crowdfunding. There are also considerations for a central bank digital currency but nothing has been planned for now.