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Russian draft law on cryptocurrency regulation to be presented on December 28

December 21, 2017, 14:55 UTC+3 MOSCOW

Bitcoin is a decentralized system based on blockchain technology, which any user - participant of the system can emit, creating new blocks of the system with the help of a computing device

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MOSCOW, December 21. /TASS/. The draft law on the regulation of cryptocurrency in Russia will be presetned on December 28, Chairman of the State Duma Committee on Financial Markets Anatoly Aksakov said on Thursday at a press conference in TASS.

"Today we will have a meeting in a small circle, where we will highlight the key points before the presentation of the draft law. Cryptocurrency is defined as other property, there are no names - bitcoins, Ethereum," he said, noting that this is not the latest version, the draft law will be discussed.

Bitcoin is a decentralized system based on blockchain technology, which any user - participant of the system can emit, creating new blocks of the system with the help of a computing device. The concept of the system was first published in November 2008.

In early August 2017, cryptocurrency was divided into classic bitcoin and Bitcoin Cash, due to disputes about updates, which were supposed to increase the speed of transaction processing.

Russian Minister of Communications and Mass Media Nikolai Nikiforov said earlier he believes that Russia is unlikely to legalize bitcoin. Although earlier in October, it was reported that Russia's Communication Ministry has submitted to the government the document containing technical details related to cryptocurrencies adoption.

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