Does Russia change its Bitcoin stance?

Does Russia change its Bitcoin stance?

Does Russia change its Bitcoin stance? According to the latest news, the Russian parliament is discussing the easing of cryptocurrency laws. This time, the Russian parliament State Duma is not threatening to imprison crypto users.

Does Russia change its Bitcoin stance?
In previous reports, it was stated that Russia could enact a new law and criminalize the use of crypto money. However, recent documents show that the Moscow administration has revised the Digital Financial Assets (DFV) law. Cryptocurrencies that criminalize this document will be updated. Probably there is a shift towards the benefit of Bitcoin.

As we reported earlier, the lower wing of the Russian parliament wanted to take steps to take drastic measures regarding the use of cryptocurrencies.

In the first talks on DFV, opinions were expressed against the complete ban on cryptocurrencies and their use in Russia. Moreover, it was envisaged that the citizens who broke this law would be fined $ 30,000 and imprisoned up to seven years.

Russian crypto money supporters, who opposed it at the time, also stated that such a law was excessive and would cause crypto users in Russia to turn to different regions.

It seems that during the second meeting on the draft bill, these excessive items were removed. Anatoly Aksakov, head of the parliamentary financial markets committee, confirmed this. He also reported that parts of criminal proceedings were removed from the law.

Despite this, he stated that another law could be accepted in the parliament during the fall period. He did not give any information about what this second law predicted about cryptocurrencies.

The first laws came out in January 2021

Aksanov reported that there are three different laws currently under discussion. According to him, Russia may enact the law that it has changed its attitude towards Bitcoin as of January 2021. The fall semester can be accepted in the second and third sessions of the parliament. It will come into force on the specified date.

He also noted that the bill described cryptocurrencies as “digital codes or a set of electronic data contained in an information system”. And this data can be used as a means of payment and a store of value. In addition, digital assets are said to be “neither an international currency nor a foreign state or a currency of the Russian Federation”.

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