Russian Ministry of Finance buildingMOSCOW, Jan 25 The Russian Ministry of Finance advocates regulation, not ban cryptocurrencies, has prepared an appropriate concept and is waiting for the government’s position on this issue, said the head of the financial policy department of the ministry, Ivan Chebeskov. Thus, the Bank of Russia proposes to legally ban the circulation and mining of cryptocurrencies in the country, while not restricting their ownership by law. And for violations of these requirements, the Central Bank proposes to introduce liability in the form of fines. it is, of course, necessary to protect the interests of our citizens, consumers of these services, those who buy these assets or use cryptocurrency in some other technological solutions.In this regard, of course, in my opinion, it is necessary to regulate, not prohibit. once it will allow to ensure the transparency that will ensure the protection of citizens,» Chebeskov said during the conference «Cryptoassets: everything you wanted to know about regulation, but were afraid to ask.» «The Ministry of Finance is actively involved in the development of legislative initiatives in terms of regulating this market, and, in turn, we have a prepared concept of regulation, which we are discussing within the Ministry of Finance and now it has been sent to the government apparatus. We don’t have a decision on this concept yet, there was no official position of the government,” he added. on the crypto market
