Ministry of Finance: the circumvention of sanctions is not the purpose of regulation of cryptocurrency
MOSCOW, may 22 — RIA Novosti. Bypass sanctions of the West against Russia is not the purpose of the draft law on the regulation of cryptocurrencies, but it creates that possibility, said Deputy Finance Minister Alexei Moiseev.
“Circumvention of sanctions is not the purpose (of the bill on the regulation of cryptocurrencies — ed), but it is possible definitely. First of all you can talk about jurisdiction, which is difficult to raise funds. This Republic of Crimea in the first place and the city of Sevastopol. If someone wants to open a cafe, then man is hard to find cheap money and the organization of the ICO, in fact, close this issue”, — he told in interview to TV channel “Russia 24”.
Currently, the legal status of cryptocurrencies in Russia is not defined. In March, the Duma introduced two bills that are expected to regulate the new market. The draft law “On digital of financial assets”, provides a definition of such assets, referring to them bitcoin and the token. In this case clearly establishes that digital financial assets are not legal tender in the territory of the Russian Federation.