CryptoMediaClub
Tuesday, July 8, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home All news

Russian Government, Central Bank ‘Come to Consensus on Crypto’

28.03.2024
A A
0
124
VIEWS
ShareShare

Russian government bodies, the nation’s anti-money laundering agency, and the Central Bank have reportedly “come to a consensus” on crypto policy.

The breakthrough could finally put an end to a long-standing crypto impasse in Moscow. It could also see Russia belatedly start regulating the crypto sector.

Russian Government’s Crypto ‘Breakthrough’

According to the media outlet RBC, the Ministry of Finance, the Central Bank, and Rosfinmonitoring have “agreed on an approach to regulating cryptocurrencies.”

Rosfinmonitoring is the country’s anti-money laundering and counter-terrorism financing agency. It has recently called for Moscow to fast-track crypto regulations after the Financial Action Task Force (FATF) downgraded Russia’s compliance rating.

The FATF noted that Russia had adopted “insufficient regulation of virtual assets and cryptocurrencies” at a February 23 plenary meeting.

The Ministry of Finance and the Central Bank have been at loggerheads over crypto policy for years.

The ministry wants to regulate crypto and legalize industrial mining. It also wants to let Russian firms use crypto as an international payment tool.

Miners this month petitioned ministries in a third concerted effort to have their industry placed on an official register of licensed business activities.

Ministries have responded “positively,” Russian reports have claimed. However, the Russian government is not united on the matter.

The nation’s trade and industry ministry is reportedly unhappy with the proposal.

However, the acting director of the Financial Policy Department of the Ministry of Finance, Alexey Yakovlev, said “both the state and market participants” were interested in legalizing the industry.

Miners have claimed Moscow can expect to raise millions of dollars worth of tax every year from their booming industry.

They have also claimed that if Moscow nurtures their industry, Russia will be able to displace the United States as the world’s biggest crypto mining power.

Anton Siluanov (left), Russia’s Minister of Finance.

Anton Siluanov (left), Russia’s Minister of Finance. (Source: Studio Production/YouTube)

Third Time Lucky for Russian Crypto Miners?

The Ministry of Finance has reportedly begun drafting a bill that will deal with matters related to crypto mining.

The same ministry’s last attempt to create a crypto bill resulted in abject failure in 2022, when the Central Bank countered with its own rival bill.

Exclusive: Russian oil firms face delays of up to several months to be paid for crude and fuel as banks in China, Turkey and the United Arab Emirates become more wary of US secondary sanctions https://t.co/k5GeQosBA2

— Reuters (@Reuters) March 27, 2024

The crypto-skeptic Central Bank’s 2022 bill proposed a China-style ban on almost all forms of crypto-related activities.

Crypto Consensus Forming in Moscow?

However, Yakovlev offered hope. He said that both the bank and Rosfinmonitoring were “consulting” with the ministry on the draft bill.

Yakovlev said the bill would address matters including how miners must handle coins. The bank has previously said it will only countenance crypto mining if miners swap their coins for fiat on overseas crypto trading platforms.

Law enforcement agencies have expressed their destain for this plan, saying that it will “open the door to money laundering.”

Raiffeisen’s Plan to Repatriate Russia Cash Clears First Hurdle https://t.co/gmQkyst71T

— Bloomberg (@business) March 27, 2024

RBC also quoted a Ministry of Finance spokesperson as “expressing the hope” that the State Duma would “be able to consider a bill on the regulation of cryptocurrencies” in the current session.

Yakovlev has previously said it “would be pointless” for the Russian government to “attempt to ban crypto mining.”

In March 2022, he poured cold water on ministry proposals to ban “private” mining – and “legalize” industrial the mining sector.

The post Russian Government, Central Bank ‘Come to Consensus on Crypto’ appeared first on Cryptonews.

Share10Tweet6ShareSharePin2

Related Posts

Vitalik Buterin Urges Crypto to Embrace ‘Copyleft’ Licensing to Revive Open-Source Ethos
All news

Vitalik Buterin Urges Crypto to Embrace ‘Copyleft’ Licensing to Revive Open-Source Ethos

08.07.2025
0

Ethereum co-founder Vitalik Buterin has called on the crypto community to shift toward “copyleft” licensing, arguing that the sector is...

Read moreDetails
[LIVE] Crypto News Today: Latest Updates for July 8, 2025 — Nasdaq-Listed Murano Global Adopts Bitcoin Treasury Strategy With $500M Backing

[LIVE] Crypto News Today: Latest Updates for July 8, 2025 — Nasdaq-Listed Murano Global Adopts Bitcoin Treasury Strategy With $500M Backing

08.07.2025
Software Developer Polaris Office Joins South Korea’s Stablecoin Craze

Software Developer Polaris Office Joins South Korea’s Stablecoin Craze

08.07.2025
London Duo Jailed for $2 Million Crypto Scheme

London Duo Jailed for $2 Million Crypto Scheme

08.07.2025
ChatGPT’s 42-Signal TON Analysis Flags Critical $2.70 Support Collapse After UAE Golden Visa Scandal

ChatGPT’s 42-Signal TON Analysis Flags Critical $2.70 Support Collapse After UAE Golden Visa Scandal

08.07.2025
Load More
Next Post
Laser Digital Introduces Polygon Fund with Liquid Staking for Institutional Clients

Laser Digital Introduces Polygon Fund with Liquid Staking for Institutional Clients

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

The Share of Aussie HODLers is Back to 2021 Levels (Study)

2 years ago
XRP Price Breakout Imminent? Analysts Predict Massive Surge From Symmetrical Triangle

XRP Price Breakout Imminent? Analysts Predict Massive Surge From Symmetrical Triangle

12 months ago
BlackRock has more to lose from a BTC price crash pre-Bitcoin ETF

BlackRock has more to lose from a BTC price crash pre-Bitcoin ETF

2 years ago
Mastercard Combines Cards and Digital Wallets for Easy Payments

Mastercard Combines Cards and Digital Wallets for Easy Payments

8 months ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

London Duo Jailed for $2 Million Crypto Scheme

Bitcoin remains stuck in $100k-$110k band as retail and whales enter potential standoff

ChatGPT’s 42-Signal TON Analysis Flags Critical $2.70 Support Collapse After UAE Golden Visa Scandal

Pi Coin Price Prediction: Daily Volume Collapses Below $100M – Are Whales Dumping and Vanishing for Good?

DDC Enterprise’s Bold Bitcoin Move: Boosting Holdings to 368 BTC Signals Strategic Shift

BONK’s SOL Buying Spree Counters Pump.Fun $741M Sell-off – Can LetsBONK Trigger 70% Pump?

Trending

Vitalik Buterin Urges Crypto to Embrace ‘Copyleft’ Licensing to Revive Open-Source Ethos
All news

Vitalik Buterin Urges Crypto to Embrace ‘Copyleft’ Licensing to Revive Open-Source Ethos

08.07.2025
0

Ethereum co-founder Vitalik Buterin has called on the crypto community to shift toward “copyleft” licensing, arguing that...

[LIVE] Crypto News Today: Latest Updates for July 8, 2025 — Nasdaq-Listed Murano Global Adopts Bitcoin Treasury Strategy With $500M Backing

[LIVE] Crypto News Today: Latest Updates for July 8, 2025 — Nasdaq-Listed Murano Global Adopts Bitcoin Treasury Strategy With $500M Backing

08.07.2025
Software Developer Polaris Office Joins South Korea’s Stablecoin Craze

Software Developer Polaris Office Joins South Korea’s Stablecoin Craze

08.07.2025
London Duo Jailed for $2 Million Crypto Scheme

London Duo Jailed for $2 Million Crypto Scheme

08.07.2025
Bitcoin remains stuck in $100k-$110k band as retail and whales enter potential standoff

Bitcoin remains stuck in $100k-$110k band as retail and whales enter potential standoff

08.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz