Finance ministry says cbank to decide on cryptocurrency exchange

MOSCOW, Mar 19 (PRIME) -- Russia’s central bank and the Finance Ministry have settled all discords regarding exchange of cryptocurrencies, and a decision will be made by the central bank, Deputy Finance Minister Alexei Moiseyev told reporters on Monday.

The ministry released in January a bill on regulation of digital assets in the country, in which it gave definitions to cryptocurrencies, tokens, mining, and initial coin offerings (ICOs), among others. The ministry said then that it disagreed with the central bank about an option to exchange cryptocurrencies for rubles, foreign currencies, or other property.

The central bank found it possible to endorse exchange for rubles, foreign currencies, or other property only of the tokens issued within Russian ICOs and opposed such transactions for other cryptocurrencies because of a threat of dubious operations.

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