Russia is Considering Ban on Cryptos
Main page News, Russia, Mining, Regulations

The official site of Russia's State Duma has just published a new version of the draft law "On Digital Financial Assets" as well as a series of additional documents regulating transactions with cryptocurrencies, Forbes has reported.

Per this new version, the circulation, mining and advertising of cryptocurrencies could be banned in Russia. Anatoly Aksakov, head of the financial market committee of the State Duma, said the country's new law on cryptocurrencies will not come into force until the summer.

Experts believe that if the regulation of the crypto industry is too strict, the market could simply move abroad.

One of the provisions of the draft calls for a ban on the distribution of information on cryptos as well as on the circulation of digital currencies. This ban could affect posts on social networks and Internet resources that provide information on the crypto industry.

This new law does not mean Russian users cannot own cryptocurrencies, as they will be able to own them on foreign platforms.

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