Russian Federal Commission Cryptocurrency Supervision Working Group

According to the news on December 12, the Parliament of the Russian Federation (Senate) is forming an expert working group that will work on the development of additional rules for the development of crypto sites in Russia.

Currently, the Digital Financial Assets Act is the only part governing cryptocurrencies, and stakeholders have found that they need more legislation to cover many issues such as travel and taxation.

In addition to the delegation of representatives, this group will also include representatives from the Ministry of Finance, Ministry of Economic Development, Russian Minister of Finance Rosfinmonitoring, Ministry of Digital Development, Government Tax Service, Central Bank of Russia and law enforcement.

According to Forklog, Federal Commission Vice Chairman Nikolai Zhuravlev announced that members of the cryptocurrency industry could also be invited to the Finopolis 2021 conference. For the new currency, Zhuravlev said Russia had prohibits the use of crypto-currencies as a means of payment. But he also said that the question of whether other operations using digital assets should be restricted was difficult and inconsistent.