Monday, January 17

Russia will allow cryptocurrency acquisitions by foreign companies!


Amid a scenario of not so concrete positions, the government of Russia will allow acquisitions of crypto assets. Several officials linked to the financial environment show some support for digital assets, allowing citizens to have them. On the other hand, the outlook would not be entirely free, with legislation that would prohibit, or not, crypto transactions within the country.

The coming regulations

At present it is not clear how the Russian government plans any regulation towards the crypto environment. However, while there is some uncertainty, it seems that the authorities could give room to the flow of the crypto market.

While the statement has been issued that cryptocurrencies would have possibilities to move in the Russian economy, the picture remains confused. Russia will allow acquisitions of digital assets, however this fact would not be as influential internally.

The Bank of Russia has been willing to deal with the crypto field, but not allowing its free circulation within the local economy. Government and financial authorities point to a scenario where possible regulations for cryptocurrencies are well implemented.

The data provided indicates that the government would accept the crypto world, but only through international infrastructures. In this way, its use in the national environment would be restricted, but without prohibiting citizens from owning digital assets.

In this case, Lieutenant Governor Vladimir Chistyukhin spoke about it, making known his position on the arrival of cryptocurrencies. It disclosed that with upcoming regulations, Russian citizens would have access to Bitcoin and other cryptos with foreign platforms.

An uncertain outlook

Within several opinions, a concrete response to the scenario where the crypto market has a place in Russia has not yet been defined. Meanwhile, authorities will seek to formalize a regulatory framework that could give crypto assets a “green light”. This, considering the points of view that have already been expressed by various officials.

Although Russia will allow acquisitions of these types of assets, government representatives do not present a synchronized position. Unlike those who directly support or not the inclusion of cryptocurrencies in Russia, Anatoly Aksakov does not give a concise answer.

The chairman of the Financial Markets Committee of the Russian State Duma preferred to wait for a related voting process. He announced that the Russian government will decide next year whether to allow or prohibit crypto transactions in the country.



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