The State Duma of the Russian Federation states that regulation of cryptocurrencies in the Russian Federation is on pause. This was confirmed by the head of the State Duma Committee on the Financial Market, Anatoly Aksakov. At the same time, he hopes that the process will soon move forward.
Speaking at the conference, A. Aksakov said that for now the topic of cryptography is stuck. There seems to be a market, but it is not regulated in any way. Aksakov hopes that in the fall the bills will still be put into action, and the issue of regulating cryptocurrencies will be regulated.
Let us recall that earlier Finance Minister Anton Siluanov said that the Ministry of Finance and the Central Bank of the Russian Federation still have different positions on the regulation of cryptocurrency and are still in discussion.
Regulation of cryptocurrencies in Russia has been discussed for a long time
In the summer, deputy A. Aksakov pointed out that several bills related to cryptocurrencies were being considered in the State Duma, among them the law on mining. A bill has been proposed regarding the liability of cryptocurrencies for non-compliance with laws. So far, none of them have been accepted.
Also speaking at the conference, Aksakov said that the volume of the digital financial assets (DFAs) market in Russia has already exceeded 25 billion rubles, and by the end of the year it could approach 50 billion. According to him, the law on CFA is being actively implemented, and perhaps by the end of this year it will increase. Aksakov added that the pace of increase in digital financial assets of Russian companies inspires some optimism.
Aksakov believes that the digital ruble will have an impact on the banking sector
According to the deputy, the role of banks will decline as the blockchain develops. He indicated that banks could find use as part of the infrastructure for digital financial assets and the digital ruble. The classical role of banks will gradually decline, according to A. Aksakov.
Let us remind you that there is now an active process of testing the digital ruble in the Russian Federation, with dozens of banks in several regions of the country taking part in it.