Category: finance ministry

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Russian Lawmaker Proposes Legalization of Cryptocurrencies to Attract Investments

The head of the Russian State Duma Committee for Economic Policy has proposed legalizing cryptocurrencies in order to attract foreign investments including from countries with anti-Russian sanctions. Also read: Indians Look to Buy Bitcoin Overseas as Regulations Tighten Proposal...

Thai Government Cannot Stop Crypto Use – Regulatory Framework Expected in a Month

Thailand’s financial agencies have agreed that regulators cannot stop the use of cryptocurrencies within the country. The relevant ministries will meet and discuss the regulatory framework for digital currencies and initial coin offerings, which is expected to be finalized...

Russia Drafts Bill to Create Offshore Companies to Trade Cryptocurrencies

The Russian Ministry of Finance is drafting a bill to allow the creation of offshore companies to trade cryptocurrencies. This follows the bill which the ministry recently published on the legal framework for cryptocurrencies. Also read: Japan’s DMM Bitcoin...

Bank of Russia Allows Crypto Mining But Proposes Miners Sell Their Coins Overseas

The Bank of Russia said it will allow cryptocurrency mining in the country, given tax, control, and reporting considerations. However, the central bank also proposes for crypto miners to sell their coins overseas, which will still oblige them to...

Russia Developing System to Identify Crypto Miners but Considers Giving Them Tax Break

A Russian ministry is preparing a bill for the regulation of cryptocurrency mining which reportedly includes a “special system” to detect crypto miners. In addition, there may be a 2-year tax break for miners as well as energy...

Russia Finalizes Federal Law on Cryptocurrency Regulation

The Russian government is in the process of finalizing the federal law for the regulation of cryptocurrencies and initial coin offerings. The draft law has now been officially published. It regulates the creation, issuance, storage, and circulation of cryptocurrencies....

Russian Bill Requires Deputies to Declare Their Cryptocurrency Investments

The bill for the regulation of cryptocurrencies in Russia submitted by the finance ministry and the central bank requires State Duma deputies to declare their cryptocurrency investments. Currently, government officials are not required to declare their crypto holdings,...

Cryptoruble Delayed – Russian Central Bank Worried It Could Bypass Regulations

Russia’s national cryptocurrency, the cryptoruble, is unlikely to be created in the foreseeable future, according to the Bank of Russia. The central bank believes that it could be used to bypass regulations. Meanwhile, the finance ministry wants to...

Despite Multiple Government Warnings, Indians Flock to Crypto Exchanges

The Indian government has been actively issuing warnings regarding the risks of investing in cryptocurrencies such as bitcoin. However, Indians are not deterred, crowding to register at crypto exchanges in the country. Also read: Russian Cryptocurrency Bill Is Ready...

Putin Wants to Use Cryptoruble to Evade Sanctions But Bank of Russia Skeptical

Russia’s president Vladimir Putin has reportedly commissioned work to create a cryptocurrency as a tool to circumvent international sanctions. His economic adviser explained that “no mining is possible” for the cryptoruble. Meanwhile, the country’s central bank and finance...