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Finance Ministry proposes regulation on cryptocurrencies
“The Ministry of Finance is deeply involved in the development of legislative initiatives insofar it concerns regulating this market. We have prepared a concept of regulation discussed by us within the Ministry of Finance, and now it has been sent to the government. So far, we have seen no decision on this concept, the government has not unveiled their official position, but nevertheless, the direction of our activity is like that,” said Ivan Chebeskov, Director of the Financial Policy Department of the Ministry of Finance, at the conference “Cryptoassets: things you wanted to know about regulation, but were afraid to ask”.
The Bank of Russia already outlined its position on the cryptocurrency market in the Russian Federation, the PLUSworld.ru portal reports. “In our opinion, the best option would be to ban cryptocurrency mining,” stated Elizaveta Danilova, Director of the Financial Stability Department of the Bank of Russia, speaking at an online press conference on January 20, 2022