Kazan proposed as a pilot zone for regulating cryptocurrencies

The head of the Ministry of Digital Development of Tatarstan, Ayrat Khairullin, proposed making Kazan a pilot zone for testing the regulatory possibilities of the cryptocurrency market in the Russian Federation, according to «Интерфакс».

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He said the initiative could be implemented within two federal laws — on experimental legal regimes and on digital financial assets. This would allow an assessment of how the elements of the cryptocurrency market infrastructure operate under state oversight, Khairullin said.

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Earlier, Anatoly Aksakov, head of the State Duma committee on the financial market, said that legalising crypto assets could be done within the framework of the law on experimental legal regimes.

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On 20 January, the Bank of Russia presented a report that proposed to limit the circulation of cryptocurrencies and mining within the territory of the Russian Federation. Such a position was not supported by the government, the State Duma and security agencies.

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According to Andrey Lugovoy, deputy chairman of the State Duma committee on security and anti-corruption, all members of the working group devoted to cryptocurrencies, advocate regulation, rather than a ban. This was also confirmed by the Finance Ministry.

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