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UK Finance Ministry to Propose Broad Rules for Crypto, Invites Industry Feedback
31.1.2023
The Treasury also gave crypto companies a time limited exemption to approve their own crypto promotions until more regulation comes
Russian Finance Ministry Makes Fresh Bid to Tax Crypto Miners
26.1.2023
The Russian finance ministry has launched a fresh attempt to tax crypto miners – in a bid to surmount obstacles thrown up by the nation’s Central Bank and law enforcement agencies....
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Russia’s Crypto Mining Bill ‘Has Stalled,’ Says Finance Ministry
19.1.2023
Russia’s crypto mining legalization bill has hit a last-minute obstacle, and the draft law’s progress has now “stalled,” the nation’s Ministry of Finance conceded.
Per Finmarket, the nation’s Deputy Finance Minister Alexei Moiseev told reporters on Wednesday that the long-awaited bill – which...
Russian Finance Ministry Says ‘Why Not?’ to Crypto in International Payments
3.1.2023
The Russian Finance Minister has confirmed that his department wants to green-light the use of crypto as a payment tool in international trade. And he says that countries that “want to do business” with Moscow should be allowed to pay in crypto if it is “convenient” for them.
The comments, which...
Bank of Russia Backs Crypto Mining Bill But Insists Minted Coins Should Be Exported
10.12.2022
The monetary authority in Moscow has expressed support for the latest legislative attempt to legalize cryptocurrency mining. However, the regulator wants the extracted digital currency to be sold outside the country or only under special legal regimes in Russia, as an exception. Russia’s Central...
Russia Starts Developing Mechanism for International Crypto Payments
25.9.2022
Financial authorities in Russia have begun work on a mechanism to facilitate the employment of cryptocurrencies for settlements with other nations amid sanctions. The country’s central bank and finance ministry have already agreed on a draft law regulating cross-border crypto payments....
Bank of Russia, Finance Ministry Agree on Crypto Mining Regulation, Law Expected Soon
22.9.2022
Major government institutions in Moscow, the central bank and the finance ministry, have aligned their positions on the regulation of cryptocurrency mining in the Russian Federation. The respective bill will soon be filed with the State Duma, a high-ranking member of the house unveiled. Financial...
Indian Government Working on How GST Tax Could Be Applied to Crypto
22.9.2022
India’s ministry of finance is reportedly working on how the goods and services tax (GST) could apply to crypto transactions. “A better understanding of how cryptocurrencies fit into our legal system is the prerequisite for the decision on the GST rate,” a source told local...
Russian Prime Minister Orders Finance Ministry, Central Bank to Agree on Crypto by December
15.9.2022
The central bank and the finance ministry in Moscow have been asked by the head of the Russian government to agree on a vision for the development of the country’s digital asset market by Dec 1. Working with other regulators, they should also present a common position on the legislation...
Bank of Russia to Promote Digital Ruble in Foreign Trade as Finance Ministry Pushes for Crypto Option
10.9.2022
Days after the two institutions agreed on the need for cross-border crypto payments, the finance ministry and the central bank of Russia are once again highlighting their different priorities. While the treasury department aims for legalizing cryptocurrency payments in the coming months,...
Russia Explores Stablecoins for Settlements With Friendly Nations
7.9.2022
Russia is cooperating with friendly countries on the potential employment of stablecoins in international payments, a top government official unveiled. The news comes after key institutions in Moscow agreed that the Russian Federation needs to legalize cross-border crypto payments in the face...
Russia Can’t Do Without Cross-Border Crypto Payments, Consensus Reached
7.9.2022
Key government institutions have agreed that Russia needs to legalize crypto payments for international settlements. The proposal has been gaining support in the past few months since Moscow’s decision to invade Ukraine was met with wave after wave of Western sanctions. Financial Authorities...
Russia’s Finance Ministry, Central Bank Agree To Legalize Cross-Border Crypto Payments
6.9.2022
Ending a long-term dispute, Russia’s Ministry of Finance has announced it has reached an understanding with the Bank of Russia, the country’s central bank, over the legalization of cross-border payments in cryptocurrencies....
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Bank of Russia Says Stablecoins Are Not Suitable for Settlements
14.7.2022
The Central Bank of Russia has spoken out against stablecoins, which it says are highly risky and not fit for payments. The monetary authority reacted to a statement by a top finance ministry official who suggested that his department would support the development of Russian stablecoins....
Russia’s Finance Ministry Supports Circulation of Stablecoins in Country
9.7.2022
The Russian Ministry of Finance is ready to back the legalization of transactions with stablecoins in Russia, according to a high-ranking representative. While the ministry recognizes that cryptocurrencies could lay the ground for a new financial system, the department is unsure if it will...
Bank of Russia Ready to Legalize Crypto Mining If Miners Sell Minted Coins Abroad
4.7.2022
The Central Bank of Russia would agree to the legalization of cryptocurrency mining, provided the proceeds from the activity are converted to fiat outside of Russia. The regulator’s latest position on the matter comes after it softened its stance on the possible use of cryptocurrencies...
Reports Claim Russia Defaulted on Foreign Debt for the First Time in a Century, Kremlin Disagrees and Says It Paid
27.6.2022
According to reports, the Russian Federation has defaulted on its foreign debt for the first time since 1918. Bondholders told the press that they had not received payments from the transcontinental country. However, Russia’s finance ministry denies the allegations and says the country made...
Russian Finance Ministry Rules Out Sale of Oil for Bitcoin
20.6.2022
The Russian government considers bitcoin as a payment option for small business transactions, not for oil exports, the country’s finance ministry has indicated. A top official emphasized the department means that cryptocurrencies may be used in barter deals, but not as legal tender. Crypto...
Tough Crypto Law Expected in Russia Despite Central Bank’s Softer Stance on Crypto Payments
2.6.2022
The bill “On Digital Currency,” meant to comprehensively regulate crypto transactions in Russia, will be a “tough” law, according to the head of the State Duma Financial Market Committee. The legislation is yet to be finalized and will not be reviewed by lawmakers in...
Provision Allowing Cryptocurrency Payments in Foreign Trade Added to Russian Bill
29.5.2022
A proposal to permit companies to use cryptocurrency in cross-border settlements has made its way to a draft law designed to regulate Russia’s crypto space this year. According to a press report, the finance ministry has introduced a number of revisions to the legislation it has been working...