The government approved a plan for the regulation of the cryptocurrency market

Russian Deputy Prime Minister Dmitry Chernyshenko approved the “road map” to regulate cryptocurrency operations in Russia until the end of the year. This was reported by RBC with reference to the adopted document.

The government proposes to identify customers of crypto exchangers, introduce responsibility for crimes with cryptocurrency, evasion of cryptocurrency transactions and for illegal circulation of digital financial assets.

The Ministry of Finance, the Ministry of Economic Development, the Prosecutor General, Rosfinmonitoring, the FSB, the Ministry of Internal Affairs, the Federal Tax Service, the Ministry of Digital Development and the Bank of Russia prepared the plan for the cryptot. According to the source of RBC, the proposals approved all departments except the Central Bank. There they advocate a ban on cryptocurrency mining and any operations with it in Russia.

The departments decided that the cryptornic has advantages and certain risks, so the complete ban will be inappropriate and entailing the departure to the shadow market. The Central Bank reported that they sent a proposal to the government to finalize the "road map". The Bank of Russia supplemented that it was necessary to adopt a law prohibiting the release of private digital currency.

Last week, the Central Bank proposed completely banning the turnover and mining of cryptocurrency in Russia. Bloomberg wrote that the FSB convinced the Central Bank to ban cryptocurrencies so that the opposition, “undesirable organizations” and “foreign agents” could not use them.

The Ministry of Finance advocated regulation, not a ban on cryptocurrencies, and proposed to carry out all operations with cryptocurrency through Russian banks and identify holders of cryptocurns. The proposal of the Ministry of Finance was supported, including Russian President Vladimir Putin, rejecting the idea of the Central Bank about the complete ban.

• The volume of cryptocurrency turnover in Russia is estimated at seven trillion rubles. The country's legislation is not prohibited from buying or selling cryptocurrency, but do not allow it to produce it on Russian sites and use it as a means of payment within Russia. It is impossible to exchange cryptocurrency in the bank, this can only be done through crypto-rhizas, crypto exchangers and online pickers, which increases risks for digital wallet holders.
• In September last year, China authorities forbade crypto exchangers to provide cryptocurrency purchase services in the country. The work of miners is also prohibited. In the USA and in a number of European countries, cryptocurrency, on the contrary, gradually becomes a financial tool that is regulated and protected by law as a currency or asset.

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