Facebook Libra Cryptocurrency Will Not Regulated Separately In Russia

Facebook Libra cryptocurrency will not be regulated as a separate currency in Russia as per the claim of Deputy Finance Minister Alexei Moiseev, reported on 1 July 2019.

According to the report, Alexei Moiseev said that the Facebook Libra cryptocurrency will be treated the same as all other foreign currencies and there will be no separate regulations introduced in the country.

“No one is going to ban. A large number of businesses ask when it will finally be possible to legally conduct an ICO transparently, this will definitely be regulated, permitted, and that’s all,”

– Deputy Finance Minister of Russia, Alexei Moiseev

He also noted the concern is whether “cryptocurrency will have approximately the same status as foreign currency.”

The deputy minister Alexei Moiseev also said that “it will be possible to buy, sell, store it, but it cannot be used, in fact. One opinion is that, yes, it is necessary that a“ white ”market be formed. Another thing is that no, you cannot because under the guise of“ white “the market will not know what’s going on”

Moiseev demonstrated that the cryptocurrency will not be allowed for buying and selling of goods and services and only their national currency Rubble is used in all calculations.

Last month, the Russian Ministry of Finance confirms that the ministry will soon allow the Cryptocurrency Trade.

Two weeks ago, Anatoly Aksakov, Chairman of Russian State Duma said that the upcoming cryptocurrency Libra will not be legalised in Russia,