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Crypto dedicated group has been formed by Russia to provide comprehensive crypto regulations

Crypto dedicated group has been formed by the Federation Council of Russia which will work to provide comprehensive crypto regulation. This group has officials from several ministries, government agencies, and the crypto industry of Russia.

The Crypto market is leaving its footmark in every country with each passing day. Russia is one of the top 20 countries where crypto adoption has increased faster in the past two years. The digital assets are partially regulated in Russia through the law “On Digital Financial Assets”. The wider adoption of the crypto space has forced the Russian government to add more rules to cover various aspects such as taxation.

Crypto dedicated group

Crypto dedicated group has been formed by Russia:

A crypto dedicated group has been formed from the upper house of the Russian parliament, The Federation Council. In this group, several ministries like Finance, Economic development, financial watchdog, Rosfinmonitoring, digital development, tax service, Bank of Russia, and law agencies will participate. Deputy Chairman of the Federation Council Nikolai Zhuravlev has revealed that people from the crypto industry will also be included in this crypto dedicated group.

The deputy chairman explained at an event regarding innovative technologies that crypto as a means of payment is prohibited in Russia. He exclaimed that whether other operations related to digital assets should be banned is a debatable question. The country’s financial markets head has already stated that we want to address this issue seriously.

Read more here.

About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for NewsBSC.com and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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