Putin's Orders: Russia Prepares to Legalize Cryptocurrency Trade


Authorities are planning to pass new laws which would legalize markets that are cryptocurrency .

As shown from the official publication on March 1 of the parliament, Russian president Vladimir Putin has set a deadline for relevant legislation on July 1 to be adopted in the country.

The report points to two draft legislation based.

The report suggests that the two governments have agreed on cryptocurrencies, when it comes to cryptocurrency exchanges save for one significant contradiction. In essence, the central bank isn't keen on investors and retail traders participating in trading.

Detailing the lack of consensus further, State Duma Committee for Financial Markets chairman Anatoly Aksakov explained:

«The central bank is against the legalization of this type of digital money, since in this case, taxpayers can start actively investing in crypto-tools, not taking into consideration possible risks.»

Another bill on electronic assets — this month, to be submitted to the Russian Parliament — will aim to establish government rules surrounding cryptocurrency mining.

Aksakov further stressed that both bills, from the finance ministry and the central bank, will be submitted to the room.