Home » MPs Set to Vote on Mining Bill That Would Let Russians Pay Cross-border with Crypto

MPs Set to Vote on Mining Bill That Would Let Russians Pay Cross-border with Crypto

by admin

Source: FedotovAnatoly/Adobe

A top Russian politician said a bill to regulate cryptocurrency mining has been submitted to parliament, saying the bill would also allow Russians to use cryptocurrencies “as a means of payment” outside the country.Moscow is Previously banned the use of cryptopay in the country.

in an interview with radio sputnikAnatoly Aksakov, Chairman of the State Duma’s Committee on Financial Markets, said:

“We submitted a bill to allow [people] engage in legalized mining; That is, the issuance and distribution of cryptocurrencies.However [under the terms of the bill,] Cryptocurrencies can only be used outside Russia, i.e. as a means of payment in a foreign jurisdiction. ”

Aksakov, who has been the chief architect of Russia’s cryptocurrency bills in Moscow, said both in the past and proposed that the bill would be a “step” in a “new direction” for Russia’s “development of financial markets.” added that it would.

He also argued that the new bill would open the door to further crypto adoption in the world of trading.

“The bill says that once experimental modes using virtual currency are implemented, it will be possible to use such ‘modes’ to make ‘payments for parallel imports,'” Aksakov said.

Will the new cryptocurrency mining bill succeed where others have failed?

red blood cell Last week, the deputy chairman of the House of Representatives Information Policy Committee, Anton Gorelkin, also reportedly teased the “imminent submission” of a crypto mining bill, which he said “takes into account the positions of the central bank and the Treasury Department.” did. Gorelkin added that the bill “does not threaten the ruble as the only means of payment in Russia.”

Crypto-skeptical central banks and more progressive Treasuries Arguing over encryption policy The past few years.

Gorelkin added that the bill “contains important provisions on cross-border cryptocurrency payments,” as well as providing a legal framework for “the development of domestic cryptocurrency infrastructure.” .

A private members bill drafted by MPs from the New People’s Party was rejected in the House of Commons earlier this month, with critics calling the proposal “fragmented and decidedly lacking.”

Members of Parliament at the time said the rejected bill “does not meet the legislative requirements of completeness, certainty and ambiguity.”

Related Posts

Leave a Comment