State Law on Cryptocurrency in Russia is Pending due to Coronavirus

This week, Russia’s State Duma announced that the cryptocurrency bill is ready to see the world, but the coronavirus defers the date. This legislation will give some important outlines on digital currency in the country and may even prompt the issuance of a digital Ruble.

Anatoly Aksakov, the head of the Russian State Duma Committee on Financial Markets, recently made a public announcement on readiness of cryptocurrency law in Russia, local media RBC reports. However, due to the worldwide pandemics of COVID-19 and recent closedown of Russian borders, the government decided to postpone the issuance of a new law. According to Aksakov, there is a possibility the new bill will be released before the end of spring 2020, especially as state authorities are seen as favourable towards speeding up the process.

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