- Russia will not impose a blanket ban on cryptocurrency trading within the country, as some reports have claimed.
- These are the words of Anton Gorelkin, Deputy Chairman of the State Duma Committee on Information Policy, Information Technology and Communications.
A lawmaker said reports that Russia is considering a total ban on cryptocurrency trading amid geopolitical tensions are not true.
Previous reports mentioned Russia’s new legislation to regulate the cryptocurrency ecosystem while promoting digital financial systems and the ruble.
No ban on cryptocurrency turnover
On Monday, Anton Gorelkin, deputy chairman of the State Duma Committee on Information Policy, Information Technology and Communications, dismissed these claims previously attributed to State Duma officials.
Goreklin said: telegram post The new bill is looking at banning cryptocurrency trading in the country, but does not completely ban cryptocurrency turnover.
Local media outlet Gazeta also highlighted Goreklin’s opinion.
“It is surprising that even some respected publications wrote that “agents want to ban cryptocurrency circulation in Russia.”,”” he wrote.
According to lawmakers, the new bill seeks to introduce mechanisms to help identify illegal or criminal cryptocurrency transactions. Goreklin added that it makes no sense to include this in the bill if the goal is to make everything illegal.
He emphasized that Russia will not ban cryptocurrency trading. However, the goal is to ban cryptocurrency exchanges and other cryptocurrency platforms that are not part of the government. pilot program.
The lawmaker also pointed out that restrictions on the operations of cryptocurrency exchanges are aimed at limiting their exposure in light of Western sanctions that would likely allow them to do so.
Nonetheless, cryptocurrency users still have access to foreign cryptocurrency exchanges and over-the-counter (OTC) service providers.
Russia’s latest cryptocurrency developments are unfolding as recent reports suggest that some Russian people and businesses have been using cryptocurrencies to evade sanctions investigations.