Russia will determine the fate of cryptocurrency exchanges in 2022 – Regulating Bitcoin News


A senior representative of the country’s financial regulatory agency said that discussions on the future of Russia’s “virtual currency changers” should be completed in 2022. According to international standards, the Moscow authorities will have to monitor or ban such platforms.

It is expected that next year will decide the Russian digital currency exchanger

Consideration of the regulatory treatment of online exchanges using cryptocurrencies must end in 2022. This is based on a statement by the Deputy Director of the Russian Federal Financial Supervisory Service (Roosevelt Monitoring) Herman Neglyad, quoted by TASS.

At this year’s banking law conference, the official pointed out that according to the risk management work related to money laundering and terrorist financing under the national risk assessment passed in 2018, virtual assets such as cryptocurrency are considered high-risk factors in the Russian financial industry. space. Neliad also emphasized:

I think we will have discussions in the coming year. It should be determined within the framework of the FATF standard.

Rosfinmonitoring executives further explained that for Financial Action Task Force (Financial Action Task Force) It is necessary to regulate the entry point into the official financial system, in this case cryptocurrency exchanges. He elaborated that the organization provides two alternative methods for the country-either by registering as a subject of the anti-money laundering law to legalize these encryption platforms, or banning their activities.

“Both options have the right to exist. There are different opinions,” Herman Neglyad commented. At the same time, he insisted that the debate must eventually end.

In the Russian Federation, cryptocurrency and some related activities have been partially regulated by the “Digital Financial Assets” law that took effect in January. However, many important aspects, such as the status of cryptocurrency mining, taxation issues, cryptocurrency transactions, and the use of digital currencies in payments all require the passage of new legislation to further regulate.

The Bank of Russia, the country’s monetary authority, still made it clear be opposed to Allow Bitcoin payments. Financial regulators insist that decentralized digital currency represents “Money agent‘This is prohibited by Russian law. It also actively cooperates with private banks to develop and issue a digital version of the national legal currency, the ruble.

Cryptocurrency exchanges are often the target of restrictive government actions. In October, multiple such platforms offered Russian residents You can choose to use various payment methods to exchange, redeem and transfer cryptocurrency threat It was closed after a court ruling described its content as prohibited.

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