Russian State Duma Adopts Bill for Legal Nationwide Circulation of Cryptocurrencies
/ Go to the mediabankRussian national flags with attached black ribbons are seen on the headquarters of State Duma, the lower house of parliament
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MOSCOW (Sputnik) — The Russian State Duma adopted a government-sponsored bill on digital currency and digital rights in its second and third readings on Tuesday, establishing the legal framework for the lawful circulation of cryptocurrencies in RussiaThe document formally recognizes digital currency as property, establishes general requirements for its circulation, and authorizes the Bank of Russia to permit, regulate, and supervise entities that organize such circulation. At the same time, Russian citizens will gain the legal ability to invest in cryptocurrencies through licensed domestic platforms, and may also utilize the services of brokers and asset management firms when conducting related transactions.The aim of the proposed regulation is to create a legal framework for the cryptocurrency market, so that it is as comfortable as possible for bona fide participants, guarantees the protection of their rights and at the same time makes it possible to block criminal transactions, Chairman of the Russian State Duma Committee on the Financial Market Anatoly Aksakov explained.
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