Putin Confirms Russia Will Regulate Cryptocurrencies

Following the meeting with Vladimir Putin, Russian regulators announced that cryptocurrencies will officially be regulated in Russia. The central bank and the finance ministry will now work together to come up with one draft law to provide a basic regulatory framework for cryptocurrencies including bitcoin, which is expected by the year’s end.

At the meeting on cryptocurrencies between Putin and top Russian regulators on Tuesday, the decision to regulate cryptocurrencies in Russia was reached. “The Russian government has decided to officially regulate the mining and circulation of cryptocurrencies,” RT described and quoted Finance Minister Anton Siluanov announcing on Wednesday that:

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We have agreed on the following: the state should regulate the process of issuing cryptocurrencies, the process of mining, the process of circulation…The state should head this situation and regulate it legally.
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