Russian State Duma To Adopt Сryptocurrency Laws In February

The questions regarding cryptocurrency market regulation in Russia were relevant throughout the whole past year. Now it became known that the final decision on upcoming laws is scheduled for the end of February. Anatoly AKSAKOV, the Head of the State Duma Committee on Financial Market, confirmed in his statement:

“Our task is to resolve all issues on cryptocurrency and its introduction into the Russian economic system by the end of February. We have already managed to consider many arguable questions <...>, but now a number of other issues have emerged which require another detailed study.”

During his speech, the Head of the Committee announced that the bills are currently under revision. He explained that many decisions are already in place but the slow adoption of laws is due to the variability and instability of the industry, and this requires more additions and improvements to create a safe environment for the application of technologies:

"It is about introducing a certain control of the industry, to secure both users and large enterprises operating in this area."

Earlier, Russian State Duma Speaker Vyacheslav VOLODIN stressed the necessity of the timely adoption of laws for the cryptocurrency industry regulation. Also, Russian Prime Minister Dmitry MEDVEDEV recently noted that, despite the industry crisis, there is no point in "burying" the cryptocurrencies.

Image courtesy of TASS