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The Bank of Russia proposed a bill to ban the organization of the issuance and circulation of private digital currency in the Russian Federation. This is reported by TASS with reference to the relevant document.
“The bill establishes a ban on the organization of the issuance, issue, organization of the circulation of private digital currency on the territory of the Russian Federation, including the creation and operation of legal entities in the Russian Federation, the activities of individuals that contribute to the organization of the issuance, issue, organization of the circulation of private digital currency on the territory of the Russian Federation or outside the territory of the Russian Federation,” the explanatory note says.
In addition, it is proposed to prohibit the dissemination of information about private digital currencies and their release in Russia. Banks, other financial institutions and subjects of the national payment system cannot own private digital currencies.
Another innovation is that the Central Bank intends to achieve the right to initiate administrative cases when banks own cryptocurrencies and refuse transfers for persons associated with the issuance and circulation of cryptocurrencies.
Recall that the Russian Ministry of Finance opposed the ban on cryptocurrencies. The head of the financial policy department of the ministry, Ivan Chebeskov, said that cryptocurrency should be regulated, not banned. Earlier, the Central Bank published a report for public discussion, in which it advocated a ban, issuance, exchange and circulation of cryptocurrencies, since digital money contributes to the “loss of the sovereignty of the national currency.”
Meanwhile, the head of the Ministry of Finance of the Russian Federation, Anton Siluanov, is convinced that the legalization of cryptocurrencies in Russia is preferable to a ban, since then the Internet would have to be banned. In his opinion, cryptocurrency mining in Russia should be legalized, but a special code should be assigned to this type of activity. He also hopes that the bill on cryptocurrencies will be passed this year.
Source: Rosbalt
Tristin is an accomplished author and journalist, known for his in-depth and engaging writing on sports. He currently works as a writer at 247 News Agency, where he has established himself as a respected voice in the sports industry.
