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Russia’s Finance Ministry prepares draft law on cryptocurrency regulation

December 25, 2017, 16:52 UTC+3 MOSCOW

Earlier, Vladimir Putin instructed the government and the Central Bank to develop legislative regulation of cryptocurrencies, mining and ICO by July 2018

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© Yulia Parusova/TASS

MOSCOW, December 25. /TASS/. The Russian Ministry of Finance has prepared a draft law of regulation of cryptocurrencies, Finance Minister Anton Siluanov said in an interview with Rossiya 24 TV channel.

"The Ministry of Finance has prepared a draft law, currently under consideration, which will determine the procedure for issuing, taxing, buying and circulation of cryptocurrency," he said.

The Ministry of Finance of Russia currently participates in the preparation of amendments to the Russian legislation regarding the regulation of the market of digital financial technologies.

Earlier, the Russian president instructed the government and the Central Bank to develop legislative regulation of cryptocurrencies, mining and ICO by July 2018.

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