Russian official: under new laws, it’ll be OK to work with crypto market

The World Blockchain and Cryptocurrency Summit 2018 has seen an important speaker - Anatoly Aksakov, head of the Russian State Duma Financial Market Committee. The official has made an update on three crypto draft bills. Tomorrow (Tuesday, 22 May 2018) there will be the readings of these bills, one of them being on digital rights, the second one - on crowdfunding (including digital methods) and the third one - on digital financial assets introducing new legal terms. Bitnewstoday possesses the audio recording of all statements provided in the material.

Three laws will be balanced with each other so that crypto business persons would not get confused. The introduction of the laws will be careful so that the market development is not harmed, Aksakov stressed. Naturally, the Russian lawmakers did not forget about anti-money laundering rules, but they will mostly concern fiat-to-crypto conversion and vice versa. “If people are working on the market - that’s fine” - the Duma official stated.

Anatoly Aksakov has made several other interesting remarks. As he says, the second and the third readings will happen 19 June and 21 June, respectively. The President will likely sign them before 1 July because he himself has set this date as a deadline for crypto laws implementation. The market will likely have a local boom due to the decrease of concerns of ICO investors, the civil servant believes.

Image: eCrypto