Deputy Finance Minister: Russia will Legal Cryptocurrency Within Two Weeks

The State Duma, Russia’s parliament will pass a cryptocurrency bill named “Digital Financial Assets (DFA) ” in the upcoming two weeks shared by a local financial official. The news was published in Russian local government-backed news agency TASS on 19 June.

Alexei Moiseev Russia’s deputy finance minister claimed that the State Duma considering the DFA, and will pass the bill after second reading within the next two weeks.

Moiseev further added that the authorities have approved another legal regulation for Initial Coin Offering (ICOs), which will be a part of Russia’s law on crowdfunding.

That means Russia has two bills related to cryptocurrencies, the DFA bill and law on crowdfunding. Moiseev added that the DFA bill will be approved after the second reading.

If the crypto bill is passed by the Russian parliament as expected by the official, the new crypto regulation will come in accordance with the order of country’s president, Vladimir Putin, who wants the state to enforce crypto regulations by 1 July.

Recently, TASS has reported that Russia is postponing crypto regulation due to some certain terminology requirement from the Financial Action Task Force on money laundering.

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