The government approved the concept of regulation of cryptocurrencies in Russia. The document is published on the agency's website.
The nine-page project does not have authors listed. It is known that employees of several departments, including the Ministry of Finance, the Central Bank, Rosfinmonitoring, the FSB and others, worked on the concept. Now the Ministry of Finance and the Central Bank must prepare a joint bill by February 18.
The government's concept proposes that Russian banks monitor and control all transactions with cryptocurrency. They will also store customer and transaction data, including passport data, customer photos, phone numbers, address and bank account number for at least five years.
Russian crypto exchanges, according to the concept, will be required to open legal entities, and foreign — representative offices in Russia and provide the authorities with all data on transactions of Russian clients. For violation of the rules for the circulation of crypto-currency, administrative and criminal penalties are expected — the government decided to make appropriate changes to the Code of Administrative Offenses and the Criminal Code.
The crypto-currency regulation plan was supported by all departments, except for the Central Bank. The regulator insisted on a complete ban on cryptocurrencies in Russia. Bloomberg, citing sources, claimed that the FSB convinced the head of the Central Bank, Elvira Nabiullina, to support a complete ban on operations with cryptocurrencies due to opposition donations. » class=»mz-publish-context-cite__image» alt=»1″ /> Or a complete cessation of the work of cryptocurrencies in Russia. Why did the Central Bank decide to ban bitcoins