Russia’s ‘Disappointing’ Cryptocurrency Legislation: Why Experts Consider the Bill a Failure
Russia’s government has continuously gone back and forth on crypto regulation, with final legislation tentatively set to be finalized this fall.
Russia has been trying to pass cryptocurrency legislation since the beginning of January 2018, with no success as of yet. The government’s main bill, “On Digital Financial Assets,” which was expected to be passed by July 1 — according to the wishes of President Vladimir Putin — will instead most likely be pushed back until an October Duma session.
According to Artem Tolkachev, the self-proclaimed “first” lawyer in the Commonwealth of Independent States (CIS) to begin working with Bitcoin (BTC) and blockchain startups, the reason the crypto bills didn’t make it on the July agenda was “because of the complexity of the subject and lack of consensus over the state authorities about how and what they should regulate.”
The problems arising within Russia over how to regulate cryptocurrenci