This article is from 1prime.ru and the original article can be read here
MOSCOW, May 19 – PRIME. The Ministry of Internal Affairs of Russia has agreed on finalized bills on digital currency, which, in particular, involve the arrest of digital assets by a court decision, as well as the creation of an electronic wallet for confiscated assets, RIA Novosti was told in the press center of the ministry
“The Ministry of Internal Affairs of the Russian Federation reviewed and agreed on the results of the meeting with the Deputy Prime Minister of the Russian Federation D.N. Chernyshenko, held on April 18, draft federal laws “On digital currency” and “On amendments to certain legislative acts of the Russian Federation in connection with the adoption of the federal law “On digital currency,” the ministry said.
As explained in the Ministry of Internal Affairs, the bills take into account the comments proposed by the department. In particular, they concern “the issues of organizing the procedure for the execution by the operator of a digital trading platform of a court order to seize a digital currency issued in criminal proceedings, as well as the creation of an electronic digital currency wallet for storing seized and confiscated assets.”
“Issues, including those related to the procedure for the execution by exchanges of a decision to seize and regulate the procedure for storing seized assets, are being worked out,” the Interior Ministry said.
The Central Bank opened a public discussion on the regulation of the crypto market in Russia – in January, the regulator published a report in which it proposed to legally ban the circulation and mining of cryptocurrencies in the country, while not completely limiting their ownership.
Then the Ministry of Finance opposed this approach and proposed to legalize the market. In early February, the Cabinet of Ministers approved the relevant concept and instructed to develop a bill. Then, on February 18, the ministry submitted to the government a bill on the regulation of cryptocurrencies, which, in particular, proposes to maintain the ban on their use as a means of payment in Russia, introduce the identification and online testing of investors in such assets, and consolidate the definition of digital mining.
At the same time, the Central Bank did not give in and prepared its own package of bills, in which it again called for a ban on the issuance and circulation of cryptocurrency in the country.
In February, the Russian government approved the concept of legislative regulation of the circulation of digital currencies. Thus, the circulation of cryptocurrencies will be regulated with strict obligations for all market participants and an emphasis on protecting ordinary investors.
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. EmeringCrypto.io does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.