In Russia, they called for strict control over cryptocurrencies

Deputy Delyagin called for strict regulation of the turnover of cryptocurrencies in Russia

Recognition of the presence of cross-border transfers in cryptocurrencies creates the basis for regulating this area. About this in a conversation with Lenta.” said Mikhail Delyagin, Deputy Chairman of the State Duma Committee on Economic Policy, Doctor of Economics. He stressed that cryptocurrencies in Russia need strict control.

Earlier, Deputy Finance Minister Alexei Moiseev said that the Ministry of Finance and the Bank of Russia have rethought the approach to cryptocurrencies and believe that in the near future it is necessary to legalize cross-border settlements in these currencies.

“This decision states the fact that we now have — a huge volume of cross-border transactions in cryptocurrencies. We can try to ban it, but, unfortunately, we do not have the technical means to ban it. Therefore, we can either say that it is forbidden and turn a blind eye to it, or regulate it somehow,” the deputy explained.

According to him, settlements in cryptocurrencies are a reality, and the recognition of this type of activity will allow the introduction of strict restrictive measures. “This is a victory of the Ministry of Finance. I welcome this, because I believe that trying to ban cryptocurrencies means trying to ban an entire technology sector and deprive yourself of the opportunity to develop it. But it needs to be regulated very strictly, I hope that this will be the next stage and Rosfinmonitoring will show successes in the field of cryptocurrency regulation that it cannot show in the field of regulation of conventional currencies,” Delyagin summed up.

In mid-July, Russian President Vladimir Putin signed a law that prohibits payment for goods and services with digital financial assets (CFA). In particular, a direct ban has been introduced on the transfer or acceptance of CFA and utilitarian digital rights as payment for goods, works and services. The transfer or acceptance of digital currencies (cryptocurrencies) as payment in Russia is currently prohibited.