The draft from the Russian Ministry of Finance regards cryptocurrency as a commodity

2024-07-12 17:32:47

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ChainCatcher news, according to BeInCrypto, the draft from the Ministry of Finance involves two proposed laws that will regulate cryptocurrency mining and digital currency settlement under an experimental legal framework. The Ministry of Finance suggests allowing all Foreign Economic Activity (FEA) participants to use digital assets for settlement under general regulations, which will require them to be treated as a form of monetary value.

As an experimental measure, the proposal only allows cryptocurrency trading on exchanges and platforms listed in the official registry, treating it as a commodity. The document does not specify the criteria for classifying these investors. Essentially, the ministry hopes to have authorities approve digital currency settlements for all FEA participants.

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