Russia may introduce crypto regulation framework on 11 Feb 
Experts believe that the Russian crypto community will see a better crypto framework soon in mid of this month, where everything will remain highly strict and provisions to keep the bad actors away from the crypto Industry.
Russia is a blockchain-friendly country, not friendly to the crypto industry because of the involvement of some bad actors. In 2021, Russia introduced its crypto bill to legalize crypto trading for the citizens, with the provision to remain away from crypto use in payment options. Later many leaders of the Russian crypto industry claimed that the government did nothing to regulate the crypto industry and many important things are still outside the introduced crypto bill.
Now the Russian government is in the discussion about the crypto industry’s future in the Russian Federation, whether to ban or regulate. And also discussion about sovereign Digital Currency, Digital Ruble.
According to experts’ point of view, government officials will choose an alternative to the ban and will follow strict regulations. This discussion on the crypto future discussion will take place on 11 February 2022.
This information came into the spotlight after the report covered by Bitcoin.com by taking the reference of Russian business newspaper Kommersant.ru, which disclosed the development of crypto industry regulation, records from the meeting conducted at the White House in Moscow last week.
Major support in crypto regulation
Russian President Vladimir Putin is known as the biggest critic of Bitcoin and crypto but still, he is in favor of the crypto mining industry because of the cheap electricity cost in Russia.
The finance ministry of Russia is also in favor of crypto regulation. For the same, officials of the Russian finance ministry submitted their proposal to the deputy governor of the Russian government to bring regulation on Crypto, so that the country can move continuously with the technology adoption.
However, the Bank of Russia is against the crypto industry and believes that crypto may pose a big risk to the financial Economy of Russia.
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