A working group on cryptocurrency and related activities will soon begin to meet in the State Duma, the lower house of the Russian parliament. Its members are expected to take on the task of clarifying various regulatory issues related to digital financial assets, such as the legalization of mining and the introduction of taxes.

Russian parliamentary working group resolves regulatory loopholes in encryption

Russians State Duma A representative working group is now being formed, and they will try to deal with the outstanding issues related to the regulation of decentralized digital currencies. Anatoly Aksakov, chairman of the Parliamentary Financial Market Committee, told RIA Novosti that the organization will hold its first meeting in the near future.

According to Prime, the Russian business news agency, Duma Speaker Vyacheslav Volodin proposed to establish a working group on November 11. Aksakov expressed a positive attitude towards this move, adding that the house is now gathering members of the organization.

The senior lawmaker said that there are “grey areas” in the issuance, circulation, taxation and operation of cryptocurrencies. “All of this requires discussion, analysis, legislation and regulation. So, in my opinion, the decision [to create the working group] Yes,” he commented and pointed out:

First, I myself will participate in the work of the group, and secondly, I hope we can find a solution.

So far, Russia has only partially regulated cryptocurrencies and related activities in accordance with the “Digital Financial Assets” law that came into effect in January this year. Different questions, such as whether cryptocurrency can be used for payment, remain unanswered.Bank of Russia has always be opposed to Accepting Bitcoin as legal currency, it has recently proposed to introduce legal liability for certain operations of digital assets that it considers illegal, the most obvious of which is the use of Money agent.

Cryptocurrency mining is another area that needs attention. With its abundant and cheap energy, Russia It has become a major destination for crypto miners, but the government has not yet regulated the industry.More and more Moscow officials believe that mining should Recognized As a corporate activity and taxed accordingly.September, Anatoly Aksakov shared Same opinion.

What do you expect from the Russian Parliament Working Group to expand the Russian cryptocurrency regulatory framework? Tell us in the comments section below.

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