Russian government abandons plan to ban crypto, introduces roadmap for regulation

The Russian government has abandoned its plan to ban cryptocurrencies and introduced a roadmap for its adoption.
The government plans to identify clients, violations and cryptocurrency platforms in Russia.
The central bank of Russia believes that it is advisable to implement a regulatory and restrictive cryptocurrency regime.

The central bank of Russia has abandoned plans to ban cryptocurrency. The Russian government is preparing a roadmap for cryptocurrency regulation.

Russia prepares to embrace crypto regulation
The Russian government revealed its preparation to introduce a roadmap for cryptocurrency adoption. Dmitry Chernyshenko, Deputy Prime Minister of Russia, has approved the roadmap for cryptocurrencies. It provides for regulating cryptocurrencies instead of a ban and identifying clients, violations, and cryptocurrency platforms.

Regulators and federal agencies in Russia were part of the roadmap’s preparation. The Ministry of Finance, Economic Development, Internal Affairs and the Ministry of Digital Development were involved in the preparation of the roadmap for cryptocurrency regulation alongside the Central Bank of Russia.