Cryptocurrency Trading Likely To Be Allowed In Russia.

On June 21, Russian news service Interfax reported, A representative of the Russian Ministry of Finance (MinFin) says the ministry is considering allowing cryptocurrency trading.

The Deputy Minister of Finance Alexei Moiseyev told journalists on Friday that, cryptocurrency trading may be allowed in the coming bill on the circulation of cryptocurrencies in the Russian Federation.

 

In May of last year, A bill prohibiting the use of crypto assets as a means of payment in the Russian Federation was passed.

Anatoly Aksakov, head of the Duma Financial Market Committee, called the pending decision a compromise and pointed out that the Financial Action Task Force recommended that Russia adopt a bill regulating the circulation of cryptocurrencies by the end of this year.

Also this week, news broke that the head of the Bank of Russia said that while they are exploring the possibility of launching a central bank digital currency (CBDC), it is not planned for the near future.