In his speech at the Gaidar forum, Deputy Finance Minister Alexei Moiseyev said that at the moment in Russia complete freedom of action in the cryptocurrency sphere. But over time the country will have adequate regulation.
«Many Russian companies are trying to register the holding of ICO in designated areas in Belarus, as by decree of President Lukashenko, which should enter into force in March this year, there are created favorable conditions for this. We do nothing in Russia has been regulated, but we certainly do seregelyes. But until this is done, in Russia too, you can do whatever you want. Mining we are not subject to taxation, ICO – Russia is a world leader in a number of ICO, though it is believed that many of them fraudulent.
We must succeed in this regulation and to protect the rights of citizens who participate in the ICO so that their savings in the form of a cryptocurrency they are sent to the realization of certain projects. If we are to protect the interests of these citizens, there is a certain probability that someone does not want to violate the rights of citizens and will be in the region of Minsk».
Recall that the President of Belarus Alexander Lukashenko on 21 December signed a decree
«On the development of the digital economy», which aims to create favorable conditions for the development of information technology, including the technology of the blockchain and cryptocurrency as well as joining the Republic of world IT companies.
Moses further told the journalists that as soon as the required legislation will be developed and will come into force, the illegal miners of cryptocurrencies in Russia will be engaged in currency control authorities:
«Bodies of currency control, because the calculations in the Russian Federation are carried out only in national currency. FNS is a monetary authority, as, indeed, the Bank of Russia, FCS, depending on what it will be.»
In the near future, Russia plans to adopt a law on digital assets, which will define the rules for mining cryptocurrency. The law is supposed to define mining as a business activity, this means that mining can only deal with legal entities and individual entrepreneurs.