Russian Ministry of Finance is to allow sale & purchase of Bitcoin

 The Ministry of Finance has changed its position in relation to Bitcoin -  now authorities are planning to treat cryptocurrency as foreign  currency and allow its purchase and sale.
 

Deputy Finance Minister Alexei Moiseev in an interview to the  "Russian Newspaper" said that the new law regulating Bitcoin (currently  being developed by the Ministry of Finance) will ban cryptocurrency  mining in Russia. "According to the constitution, the only currency in  the country is the ruble. Its sole issuer is the Bank of Russia. Thus,  the issue of any other currency is illegal", said Moiseev.
 

Despite the fact that the goal of department is to "exclude  cryptocurrency circulation on the territory of Russia", the Finance  Ministry wants to develop blokchain technology without harming the  Bitcoin industry, which arise from blockchain as "side products".  
 

"Yes, it's impossible to issue foreign currency in Russia. But you  can buy foreign currency, put it in your pocket and go abroad.  Therefore, we are currently working on precise definitions in the bill,  so that it will be possible to buy or sell bitcoins", reassured Moiseev.
 

According to Mr. Moiseev, the bill on the regulation of  cryptocurrency will be introduced in to the Russian parliament by the  end of 2016. 

For further information read here : http://ria.ru/economy/20160718/1470281630.html