The Ministry of Finance of the Russian Federation (MinFin) is considering the legalization of cryptocurrency trading within Russia, states Interfax citing Deputy Finance Minister Alexey Moiseyev. However, Moiseyev pointed out that currently there are no discussions on legalizing crypto in terms of payment options.
"Regarding the cryptocurrency, we had a meeting with both the Central Bank and the FSB, in fact, we now have a question on how exactly cryptocurrency can be used. There is a wide range from prohibition to the possibility of legalization. Just like with foreign currency: it’s possible to buy and sell it, but it’s impossible to pay with it. After a political decision is made on this issue, we will figure it [the issue of legalization] out from our side," Moiseyev said.
The cryptocurrency legalization bill was planned to be considered in the second reading at the plenary session of the State Duma on March 19, but the issue was postponed.
Back in May Russian Prime Minister Dmitry Medvedev at Plenary Session during the St. Petersburg International Legal Forum said that regulation of cryptocurrency is no longer relevant since "the popularity of crypto has decreased."
Meanwhile, the majority of the crypto market sees a solid surge with bitcoin (EXANTE: Bitcoin), which is trading at $10,598 (-2,98%).
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