Russia’s Ministry of Finance outlined its actions if it fails to agree with the Central Bank on the regulation of cryptocurrencies

The Ministry plans to introduce a “table of disagreements” into the bill on the regulation of digital assets

17.02.2022 - 12:40

242

1 min

What’s new? Russia’s Finance Minister Anton Siluanov has outlined the government’s actions if a compromise on cryptocurrency regulation with the Central Bank cannot be found. The ministry plans to introduce a “table of disagreement” into the bill on the regulation of digital assets, Finmarket reports.

Finmarket’s material

What else did the Finance Minister say? Siluanov added that the delay in resolving this issue hinders the development of the digital asset sector and “takes it into the shadows.” The Finance Ministry sees potential in this area and notes the urgency of regulating it.

“We have been arguing on this law for a year and a half now, and it seems to me that delay hinders the development of this sector, even if we are wrong we can always fix it, it is worse when no decision is taken, it drags on, and the grey zone as it was and remains, only developing more. We will report disagreements to the governance and they will decide what action to take. The first level of resolving disagreements is the Government of the Russian Federation.”

As previously reported, the Finance Minister met with Central Bank head Elvira Nabiullina, but once again they were unable to find a common solution.

Author: