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The bill on the regulation of the crypto-currency market in the Russian Federation will be considered on May 22



The document will define the main terms.



17.May.18 5:09 AM
By Shawn Highstraw
Photo Toinnov.com

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The bill on the regulation of the crypto-currency market in the Russian Federation will be considered on May 22
Russian lawmakers are continuing work aimed at developing the norms necessary to regulate the crypto-currency market. Since the interest of individuals and companies in transactions with digital money continues to grow, the authorities can not remain aloof from the current situation. At the moment, experts have already prepared a document containing the disclosure of key terms, including such as "crypto-currency", "mining" and "token."

Discussion of the bill should be held on May 22 in the plenary session of the State Duma. It should be noted that the committee on the financial market has already recommended it for adoption in the first reading.

Head of the profile committee Anatoly Aksakov said that the document provides for the possibility of exchanging tokens for fiat money, including Russian rubles. The central bank, in turn, must decide whether it is possible to exchange tokens for crypto currency. Also, the financial regulator is given the authority to impose restrictions related to investing.

Earlier we reported that the Ukrainian law-makers submitted to the discussion of the crypto community a draft regulatory act on market regulation.



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