Russian Parliament Set To Discuss Crypto Bill Within Next 2 Months

Wilfred Michael 

Wilfred Michael

Reporter

15 January 2019,
21:23

Russia's journey to regulating cryptocurrencies have lingered for over a year, but recent comments by State Duma's head of Committee on Financial Markets, Anatoly Aksakov, suggests that a climax is now nearer than before.

While speaking to a local news agency, TASS, Chairman of the State Duma Committee on Financial Market Anatoly Aksasov disclosed that the proposed crypto draft bill will be discussed by the lower chamber of the Russian Parliament sometime in February and will include laws about crowdfunding and investment in the industry.

As per the report, a framework on the next parliamentary discussion about Russia's crypto bill was decided upon following the recommendation of State Duma's Chairman, Vyacheslav Volodin.

On January 9, Volodin requested that the nation's lawmakers focus on finalizing the digital economy bill which the one concerning cryptocurrencies is a part of. Additionally, he suggested that Russia follows a path similar to what Italy has done by creating a group of experts that will work together in making the final regulatory framework a possibility.

Russia's proposed crypto draft bill showed up at the floor of the parliament in May 2018 and was unanimously approved by lawmakers after it's first reading. However, as we reported earlier, there are some disparities between members of the parliament since then, on what should be added and what should be removed from the framework.

Deputy Prime Minister Maxim Akimov calmed those issues in December when he said that although a few amendments were made to the draft, what will come off as the final piece, will not be so different from what the Parliament approved in May.

Aside from Russia, world jurisdictions such as U.A.E, Dubai, Malaysia, India, and Uganda are planning to roll out crypto regulations soon while Belarus beat them all to it by introducing a full regulatory framework for cryptocurrencies in early December.

 

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