Chairman of the Russian State Duma Committee on Financial Market is concerned about the lack of clear regulation of cryptocurrencies

The State Duma is going to finally settle the circulation of the digital assets in Russia shortly

10.01.2022 - 12:10

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What’s new? Anatoly Aksakov, Chairman of the State Duma Committee on Financial Market, stated that the lack of a clear legal definition of cryptocurrency and mining causes serious problems. He expressed this opinion in an interview with Parlamentskaya Gazeta.

Material on the Parlamentskaya Gazeta website

What did Aksakov say? According to the official, the taxation in Russia has not yet been defined either for digital financial assets or for cryptocurrencies. In his opinion, such an “uncontrolled” attitude has led to the fact that today “cryptocurrency is a way to pay for drug trafficking, terrorist operations, it is bribes.”

Aksakov believes that both the business on cryptocurrencies and their mining should be included in the all-Russian classifier of economic activities.

“All this needs to be regulated, put in order, the identification of cryptocurrency buyers and the taxation need to be introduced, and at the same time the rights of Russians need to be protected,” Aksakov stressed.

What are the authorities’ plans? In late December, State Duma deputy Alexei Gordeev said that a recently established working group will create acceptable and satisfactory proposals for the legislative regulation of cryptocurrencies soon. The group's experts, as well as the representatives of the Central Bank and the relevant agencies, will meet to develop the specific initiatives in February 2022.

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