On Thursday, a conflicting report emerged about the status of crypto regulatory litigation in Russia. First, a Reuters report announced that the Bank of Russia is seeking sanctions on cryptocurrencies, citing risks of financial instability and a trade boom. If implemented, the move would be in line with Russian President Vladimir Putin’s statement last month that said cryptocurrency poses “significant risks” to Moscow’s agricultural sector. case.

However, Anatoly Aksakov, chairman of the Duma [Russian Parliament] Market Council, made the following statement at a press conference the same day, as reported by local newspaper interfax.ru and translated by Cointelegraph:

There is a very complex process to completely ban cryptocurrencies, such as the acquisition or possession of. [Also] there is a legal, transparent and all-encompassing way for crypto exchanges to happen accordingly. It is easy for the Federal Tax Service of Russia to pay [exchange] for this type of transport.
President Aksakov also expressed his support for the country’s cryptocurrency mining law, referring to issues such as mining taxes and corporate use. Authorities in the country are spearheading the launch of the CBDC ruble and have committed major breaches in the independent crypto industry, including banning common currencies from investing in Bitcoin (BTC). Current figures show that Russians are converting $500 million a year into cryptocurrencies.

Source: CoinTelegraph