Finance Ministry wants cryptocurrency regulation, not ban

MOSCOW, Jan 25 (PRIME) -- Russia’s Finance Ministry supports regulation of cryptocurrencies, not their ban, and is waiting for the government’s opinion on its concept, Ivan Chebeskov, head of the ministry’s financial policy department, said on Tuesday.

“The first thing we should do is to protect the interests of our people, consumers of the services, those who buy these assets or use a cryptocurrency in other technological solutions. Here, in my opinion, we should regulate, not forbid. Regulation will ensure the transparency needed to protect the people,” Chebeskov said.

“The Finance Ministry works actively on the legislative initiatives from the point of view of market regulation and we have a prepared concept of regulation, which we’re discussing in the ministry and have submitted it to the government. We have no decision on the concept, the government has not presented any official position yet.”

Earlier in January, the central bank offered to ban turnover and mining of cryptocurrencies, but not their ownership.

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