The Ministry of Finance and the Central Bank of the Russian Federation...

The Ministry of Finance and the Central Bank of the Russian Federation introduced a bill to regulate cryptocurrency

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The Ministry of Finance and the Central Bank of the Russian Federation on Thursday at the meeting of the Public Council under the Ministry of Finance presented a bill on regulation of the use of digital technologies in the financial sector. The current bill is mainly concerned with the ICO and the rules of circulation of cryptocurrencies will be discussed later. The final version of the bill on the regulation of cryptocurrencies , Russian President Vladimir Putin instructed to prepare in the first half of 2018.

“We have shared the concept of crypto-currencies and tokens because tokens are ICO and contain the idea of investments. Our challenge as a state is to make the procedure of investment transparent legal and protected for investors. We continue with the Ministry of Finance want to clarify the rights and obligations to the company, which was carried out by the ICO, were responsible to the investors from whom it takes money,” — said about the plans of the first Deputy Chairman of the Bank of Russia Skorobogatova.

In addition, she noted that, first and foremost, the authors set themselves the task to enter if not all, then most of the concepts to be able to Orient himself in a new and challenging topic, in terms enshrined in the law concepts. The colleague was supported by Deputy Minister of Moses. He found the project to be adequate and reported that the regulation of the ICO, described in the project is the minimum necessary, because the authors of the bill did not set a goal “to regulate”.

Next few lines devoted to the mining, proposing to define it as a business and, as a consequence, to impose its taxes, regardless of the volume of cryptocurrency mining. However, the Deputy Minister Moiseev noted that the final decision on this and other issues will not accept it, and the Federal tax service. Moses also suggested that to carry out transactions of purchase and sale of cryptocurrencies on the exchanges with a license for trading.

At the end of the speech the Deputy Minister noted that to create criptural impractical because you can do it, only completely having refused from conducting the emissions of the Central Bank, but in this case the state does not provide the level of reliability of transactions.

To discuss the bill and the prospects for mining in Russia you can in the comments and in our telegram chat.