Clarification on Russia's Stance Towards Cryptocurrency Ban by Lawmaker Anton Gorelkin
Monday, 29 April 2024, 15:32
Is Russia Banning Crypto?
After initial reports speculated that Russia intended to enact a total ban on cryptocurrencies, including Bitcoin (BTC), relevant authorities have clarified the country's stance.
Russia's Cryptocurrency Regulation Proposal
- In a recent Telegram post, lawmaker Anton Gorelkin announced that the proposed bill aims to regulate cryptocurrency transactions but not ban their circulation.
- The bill targets the organization of cryptocurrency exchanges and exchangers outside the experimental legal regime.
Impact of Geopolitics
Geopolitical challenges hinder the development of a legal Russian crypto infrastructure amidst international sanctions.
Earlier reports indicated a ban to support the local ruble's dominance, sparking concerns in the crypto market.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.