Russia to Prepare Scenarios for Crypto Regulation This Month
The Russian government will develop by February 11 draft scenarios for regulating crypto markets with an assessment of their expected consequences, a local publication has reported with reference to the materials of the meeting on January 28 with Deputy Prime Minister Dmitry Grigorenko.
According to the publication, the government tends to favor the position of the Ministry of Finance, not the Central Bank. At the same time, the department itself is still at odds with the financial regulator on the issue of the possibility of ensuring the legality of the circulation of crypto assets under the control of government agencies.
In the version of the Ministry of Finance, the market will be divided into a “white” regulated part and a criminalized “black,” in the version of the Central Bank, all operations with cryptos must be carried out outside the jurisdiction of Russia.
The contours of the concept of regulation of the crypto market, agreed with government departments, are set out on February 2 in a letter from Finance Minister Anton Siluanov to Prime Minister Mikhail Mishustin.
