Russia Crypto Clash Intensifies as Finance Ministry Drafts Bill

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Russian Finance Ministry Believes Crypto Should be Regulated not Banned

The Ministry of Finance in Russia believes that the ban on crypto-assets should be shelved. Proper regulations would provide both transparency and protection to citizens. (Read More)

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Tax Authority Slated to Become Main Crypto Regulator in Russia

Russia’s tax administration is going to be tasked with overseeing the crypto industry in the country, a high-ranking government official has indicated. According to the regulatory concept that’s currently under consideration, the revenue service will also serve as an entry point for market participants. Russians to Report Crypto Holdings and Transactions to Their Tax Service [...]

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Russians Warned Against Saving in Crypto Amid Declining Savings in Foreign Fiat

A government official in Moscow has advised Russians to avoid cryptocurrencies now when interest in foreign fiat currencies is declining in the country. The high-risk assets are not suitable for the savings of most people and make sense only for investments by rich people, his comments suggest. Finance Ministry Don’t Want to See Russians Saving [...]

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