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Russian Ministry of Finance Considering Bill to Legalize Bitcoin and Crypto Trading

June 23, 2019

Russia’s Ministry of Finance is reportedly considering whether it should add legislation to an upcoming bill on digital assets that would legalize cryptocurrency trading.

According to a report from the Russian news service Interfax, Deputy Finance Minister Alexei Moiseev says the agency is open to allowing the sale and purchase of crypto assets, but a final decision has not yet been made.

“In terms of cryptocurrency, the last question that remains is – literally today we had a meeting with the participation of both the Central Bank and the FSB.

In fact, we now have a question of determining how much cryptocurrency can be used. There is a range from prohibition to possibility of purchase. It may become possible to buy and sell, but not pay [with cryptocurrency].”

…

“In theory, we should talk about the possibility of organizing all sorts of exchanges and sales of such currencies.”

Meanwhile, the Russian news agency TASS says the chairman of the State Duma Financial Market Committee, Anatoly Aksakov, says he doubts Facebook will be allowed to launch its digital asset Libra in the country.

“With regard to the use of Facebook cryptocurrency as a payment instrument in Russia, at this stage, my opinion is that in our country it will be banned.”

While Russians may not be allowed to use the coin as a means of payment, Aksakov says citizens may be allowed to buy Libra on foreign financial sites.

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