The Ministry of Finance of the Russian Federation has created a draft of a new law that would legalize the trading with cryptocurrencies on the authorized exchanges in the country. According to the local media, the Deputy Finance Minister of the Russian Federation, Alexey Moiseev said the government is striving to secure a better supervision of the cryptocurrencies. Moiseev said: “The trading of cryptocurrencies will be standardized in a certain way. Generally, the idea is to make it obligatory to buy and sell cryptocurrencies on the official exchanges. The list of the official exchanges will be published and the trading on them will be legal.”
This news comes as a surprise, especially if we consider the recent negative rhetoric of other Russian officials. However, Moiseev has consistently kept his stance that bitcoin should be legalized with certain limitations.
The Ministry of Finance is still determining which exchanges could get the operating license. Moiseev says that question still remains open, but the general direction of the legalization of the cryptocurrencies in Russia is now more or less clear.
A lot of people within the blockchain and cryptocurrency sector look at Russia as the first example of the adoption and legalization of the cryptocurrency among many other. Carl Bennetts, the co-founder of Status, said: “In the places where we traditionally relied on the central authorities and institutions is where the blockchain technology changed the way we are looking at trust and enables us to go forward towards a society that fits with the ordinary man and allows the true trade without intermediaries.”