Legalize or prohibit: the law on cryptocurrencies in the Russian Federation can be passed until the end of July

Legalization of cryptocurrency in Russia

The bill on digital financial assets on the territory of the Russian Federation may be adopted by the end of next month, but the authorities have not yet decided on the vector of market regulation, said Anatoly Aksakov, chairman of the State Duma Committee on the Financial Market, in the press center of the Parliamentary Newspaper.

“I believe that we have an X-hour or a deadline, as they say, July 25 is the last meeting in this session of the State Duma, and I have quite strict assignments to try to adopt the law in July. We will work on it. Therefore, in the coming days, a serious discussion will unfold in order to nevertheless decide on which way to go", said Aksakov. According to him, currently there is an active discussion of the document, which will be presented at the end of next month.

It is noteworthy that parliamentarians still do not have a clear position on whether it is worth legalizing crypto. As it was noted by the representative of the State Duma, two opposing options are being discussed to regulate the crypto market: its legalization and, on the contrary, a ban on the circulation of digital currencies.

Aksakov himself seems to be inclined towards the formal legalization of cryptocurrency.