MOSCOW, Jan 20There will be no noticeable outflow of capital associated with crypto-currencies in Russia, the development of crypto-currency legislation should not take much time, Pavel Shust, executive director of the association of participants in the electronic money and money transfer market, told RIA Novosti. territory of Russia, the use of the infrastructure of the Russian financial market for any transactions with them, as well as the contributions of financial organizations to cryptocurrencies and related instruments. «I do not think that the amount of capital directly related to cryptocurrencies in Russia is significant in relation to, for example, non-residents. The outflow of funds from the Russian stock market, which has been going on for the past few days, seems to be more tangible,» Shust believes. The development of legislation should not technically take a long time, since new concepts or institutions will not be introduced into the law, but only banned s for certain activities and liability for violations will be established. «If the main positions of the departments have already been agreed upon, then the formal procedure for submitting to the State Duma and subsequent consideration may take several months,» the expert believes.15:13 The Central Bank announced the risk of a bubble in the cryptocurrency market. In addition, the expert does not consider the position of the Central Bank in relation to cryptocurrencies unexpected, in his opinion, «the priority of the prohibitive approach was already indicated several years ago.» At the same time, the expert considers it important to note that the regulator itself recognizes the future movement of all cryptocurrency transactions outside of Russia, moreover, the ban will not lead to the disappearance of cryptocurrencies or investments in them. “After all, all Russian news agencies are already publishing the bitcoin rate next to the dollar,” Shust notes. “The report rightly notes that it is necessary to synchronize positions with neighboring countries where the cryptocurrency market is legal. Will they agree to introduce the same bans , as in Russia, within the framework of regulatory convergence, this is an interesting issue,» the expert concluded. on the ban on cryptocurrencies
