Russia to limit cryptocurrency purchases, France to clarify ICO position soon

The shape of the future Russian cryptocurrency legislation starts to become less vague. The member of the Russian parliament has told that while mining needs to be legalized, the limit of cryptocurrency acquisitions should also be set - either 100 or 600 thousand rubles (at the press time, $1725 or $10,351).

Russians will be able to buy cryptocurrency only in banks. The First Vice Chairman of the Central Bank suggests that his bank, together with the office of General Prosecutor, would work together to ban websites that allow Russians to buy cryptocurrency. The Vice Chairman considers cryptocurrency to be too risky for investors and in his point of view, Bitcoin has properties of a Ponzi scheme. Of course, many would disagree, but alas, the Russian government is usually very insistent in its regulative measures.

Meanwhile in America, the U.S. Commodity Futures Trading Commission high-ranking member has expressed concern over cryptocurrency transfers and delivery at his recent speech: “Would someone here like to tell me how to define the “actual delivery” of a virtual commodity? The CFTC is working very hard to provide a suitable response to that question.” However, this Commissioner does not seem to want to ban the cryptocurrency market altogether just because he doesn’t understand one aspect of it.

France plans to specify its position on initial coin offerings soon, and whatever the decision might be, it will certainly influence the cryptocurrency market of the European Union. Previous statements from the French officials suggest that the government is working towards a regulative approach. One of officials told that while cryptocurrencies might provide tools for money laundering and illicit activities, they also provide market development opportunities.

Malta has legalized Unikrn, the vast sports betting enterprise previously mentioned in the news as having very powerful investors, including Murdoch, Cuban and Kutcher. Now this business has a gambling license. Interestingly, one can bet even on the results of cybersport matches in Counter Strike: Global Offensive and DOTA 2 videogames.