In Russia, the Ministry of Industry and Trade outlines Bitcoin’s future

Cryptocurrencies will be legalised in Russia, though concrete timelines remain unknown. This was stated by the Minister of Industry and Trade, Denis Manturov, TASS reports.

The matter is under active discussion at central-bank and government level.

“There is a broad understanding that this is a trend of the times, and sooner or later, in some form, it will be implemented. It must be legal, proper, and in accordance with the rules that will be formulated,” Manturov said.

Earlier, unlike the Central Bank’s restrictive stance, several ministries and agencies advocate regulating the Bitcoin market.

The Finance Ministry’s draft law On Digital Currency proposes conducting cryptocurrency transactions through banks, identifying wallet holders, and classifying investors by qualifications.

At the end of April, the ministry backed a number of proposals from the FSB and the Interior Ministry to the document.

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