Crypto Adoption: Russia Considers Legalizing Bitcoin And Crypto Trading
The mainstream crypto adoption has been a massive goal for 2019, and more crypto experts said that this year, we would be witnessing this goal coming true.
There have been more movements made in the crypto space that are taking the industry on the right path.
Russia to add more legislation for crypto
Russia, for instance, is even considering legalizing crypto trading.
Russia’s Ministry of Finance is reportedly considering whether it should add more legislation to an upcoming bill on digital assets that would make crypto trading legal.
A report coming from the Russian news service Interfax, Deputy Finance Minister Alexei Moiseev says that the agency is open to allowing selling and buying crypto but there still has to be made a final decision.
“In terms of cryptocurrency, the last question that remains is – literally today we had a meeting with the participation of both the Central Bank and the FSB.”
“In fact, we now have a question of determining how much cryptocurrency can be used. There is a range from prohibition to possibility of purchase. It may become possible to buy and sell, but not pay [with cryptocurrency].”
He also said, “In theory, we should talk about the possibility of organizing all sorts of exchanges and sales of such currencies.”
Facebook’s Libra in Russia
According to the Daily Hodl, Facebook’s Libra doesn’t have many chances to be launched in the country.
The Daily Hodl also reported that the chairman of the State Duma Financial Market Committee, Anatoly Aksakov, said that he doesn’t believe that Facebook will be allowed to launch its controversial coin in the country.
But, at the same time, while Libra might be banned from the country, people would still have the chance to buy it from foreign websites, he concluded.
Libra has been triggering a lot of debate, ever since Facebook announced it.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.