Russia Draws Roadmap: Cryptocurrencies Will Not Be Banned -RBC

Russian Deputy Prime Minister Dmitri Chernyshenko has approved the roadmap that envisions regulating the use of cryptocurrencies without any bans.

According to the Russian news agency RBC, the roadmap was prepared with the participation of representatives from institutions such as the Ministry of Finance, the Ministry of Economic Development, the Office of the Prosecutor General, the Ministry of Digital Development, the Central Bank of Russia and the tax office.

The roadmap includes articles on how to audit virtual asset service providers, how to register institutions that mediate virtual asset transactions, obligations regarding the use of cryptocurrencies, and how to verify the identities of digital currency holders.

Roadmap that determines the legal status of organizations operating in the crypto money sector, laundering proceeds of crime and terrorism financing While there are some mechanisms for the prevention of crimes such as does not impose a ban on the use of cryptocurrencies.

In line with the roadmap, the practices recommended by the Financial Action Task Force (FATF) to prevent illegal use of cryptocurrencies until November 2022 is planned to be implemented.

With the legal regulations to be brought, the identity information of the citizens who own crypto money and the identity of these citizens how many cryptocurrencies can be followed.

The Central Bank of Russia to use cryptocurrencies imposing a ban Although he supports the idea, other authorized institutions do not support this idea. does not take kindly to transferred. Vladimir Putin had recently instructed to reach a consensus within the government on how to regulate cryptocurrencies.

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