Russia decides on the fate of crypto exchangers in 2022-regulation

Russia decides on the fate of crypto exchangers in 2022-regulation

The discussions about the future of the “virtual currency exchanges” in Russia are to be completed in 2022, said a high -ranking representative of the country's financial supervision. According to international standards, the authorities in Moscow would either have to either regulate or forbid such platforms.

decision about digital currency exchange in Russia expected for next year

Considerations for the regulatory treatment of online exchangers who work with cryptocurrencies must be ended in 2022. Rosfinnen monitoring ) Herman neglyad, quoted by TASS.

At this year's banking right conference, the civil servant found that virtual assets such as cryptocurrencies are recognized as a high risk factor for Russia's financial market in view of the risk management in connection with money laundering and terrorist financing within the framework of the national risk assessment assumed in 2018. Neglyad also emphasized:

Here we will have to complete a discussion in the coming year. It should be defined as part of the FATF standards.

The rosfin monitoring manager further explained that for the Fatf (Financial Action Task Force) it is necessary to regulate the entry points into the official financial system, in this case crypto exchanger. The organization, he explained, offers the country two alternative approaches-either the legalization of these crypto platforms by registering as subjects as subjects to combat money laundering or prohibiting their activities.

"Both options have a right to exist. There are different points of view," commented Herman Neglyad. At the same time, he insisted that the debate had to be ended at some point.

In the Russian Federation, cryptocurrencies and some activities associated with it were partially regulated by the law that came into force in January. However, many important aspects such as the status of crypto mining, tax matters, the trade in cryptocurrencies and the use of digital coins in payment transactions require further regulation through the adoption of new laws.

Bank of Russia, the currency authority of the country, remains categorically to allow Bitcoin payments. The financial supervision insists that decentralized digital currencies " Gelder replacement ", which are prohibited in Russian law. It also actively works with private banks to develop and publish a digital version of the national Fiat, the ruble.

crypto exchangers were often the goal of restrictive government measures. In October, a number of such platforms Russian residents Exchange, payout and transfer of cryptocurrency with various payment methods were Gefrapped forbidden.

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