Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, informed NSN that Russian lawmakers are planning to implement a ban on organizing the circulation of cryptocurrencies, effective September 1. This move aims to maintain the dominance of the Russian ruble as the country’s sole legal tender. Furthermore, Aksakov stated that the proposed […]
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- Russian lawmakers plan to ban cryptocurrency circulation to uphold the ruble’s dominance, permitting only digital assets issued in Russia.
- The ban targets Bitcoin and others, but exceptions apply to certain mining entities and Central Bank test projects.
- Aimed at reducing exposure to Western sanctions, the ban allows for continued cryptocurrency circulation within regulated parameters.
Anatoly Aksakov, Chairman of the State Duma Committee on the Financial Market, informed NSN that Russian lawmakers are planning to implement a ban on organizing the circulation of cryptocurrencies, effective September 1. This move aims to maintain the dominance of the Russian ruble as the country’s sole legal tender.
Furthermore, Aksakov stated that the proposed ban would specifically target transactions involving bitcoins and other cryptocurrencies, allowing only digital financial assets issued within Russian jurisdiction, such as digital rubles.
Moreover, Aksakov and a group of State Duma deputies have put forward a bill to regulate mining activities, which includes provisions for the ban on organizing cryptocurrency circulation. However, certain exceptions will be made f…
The post Russian Lawmakers Set to Ban Cryptocurrency, Except Digital Rubles appeared first on Coin Edition.
