Russian govt. clears digital currencies regulation
The Russian government approved on Tuesday the regulation of digital currencies, according to the information published by the press service of the Council of Ministers of that country.
The new law aims to regulate and integrate the circulation of digital currencies in the Russian financial system and ensure control over cash flows in the circuit of credit institutions. Another point of the new measure is the division of investors into qualified and not qualified for cryptocurrency exchanges.
The government believes that the new law will ensure the creation of the necessary framework that will bring this activity “out of the shadows” to create an opportunity “for legal business activities.” Earlier in January, the Central Bank of Russia suggested they were going to ban the mining, issuance, and trading of cryptocurrencies.
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