Russia Pushes for Cryptocurrency Ban Since 2015
Russia is taking active steps to regulate the use of cryptocurrencies within its borders, as the country has a significant presence of cryptocurrency miners and traders. The Russian government has expressed a negative stance towards the use of cryptocurrencies for financial transactions, considering them as surrogate currencies, not actual money.
The overall concept of the law regulating cryptocurrencies in Russia remains unchanged. The law being discussed in the Russian parliament is aimed at defining cryptocurrency regulation, which includes the prohibition of cryptocurrencies as a payment method in Russia. However, the exact name of the law has not been explicitly stated in the available search results.
Aleksey Moiseev, Deputy Finance Minister of Russia, has stated that cryptocurrencies cannot be used as tender within the country. The law, if passed, may be enacted during the current parliament session or by spring next year at the latest.
Despite the impending regulations, cryptocurrencies are currently being used in Russia for purchasing services, goods, and gambling, without the control of the Russian government. The government, however, does not want people to exchange cryptocurrencies to fiat money through local exchanges.
The Russian government is considering the comments from law enforcement agencies regarding the specifics of legal measures for cryptocurrencies. Russia has expressed opposition towards all cryptocurrencies, not just Bitcoin. People in Russia are allowed to "play" with cryptocurrencies, but they cannot use them as a means of exchange.
In summary, Russia is moving towards regulating the use of cryptocurrencies, with the aim of prohibiting their use as a means of payment. The regulations are expected to be passed by spring next year at the latest, and the Russian government is considering the comments from law enforcement agencies to ensure the proper implementation of the laws.
