Rosfinmonitoring backs the Ministry of Finance’s stance on Bitcoin regulation in Russia

Rosfinmonitoring backs the Ministry of Finance of the Russian Federation’s position on cryptocurrency regulation, according to the agency’s press service, TASS reports.

“The proposal conceptually aligns with the standards of the Financial Action Task Force and is supported by Rosfinmonitoring,” said representatives of the service.

At the same time, Anatoly Aksakov, head of the State Duma committee on the financial market, told «РИА Новости» about the drafting of a bill regulating cryptocurrencies.

“A group of enthusiasts, but at the same time fairly measured people, is preparing a bill that will soon be submitted to the committee,” he said.

The document will later be sent to the Bank of Russia and the Ministry of Finance for discussion.

Aksakov also said that in February the State Duma platform plans to hold a meeting with representatives of regulators and experts on the matter.

Earlier, the Bank of Russia proposed to ban the circulation and mining of cryptocurrencies on the territory of Russia. This position has found little support among lawmakers.

In the Ministry of Finance, they also opposed a ban on cryptocurrencies and presented their own concept for regulating the market.

President Vladimir Putin urged the government and the Central Bank to come to a common position on cryptocurrency regulation.

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