Alexey Moiseev: “In Russia they will never allow settlements in cryptocurrency”

Alexey Moiseev: 'In Russia they will never allow settlements in cryptocurrency'

Alexey Moiseev, Deputy Minister of Finance, expressed the opinion that in Russia the use of cryptocurrency to pay for goods and services will always be prohibited, since all settlements must be made in the national currency – the ruble.

According to the deputy minister, the main question is whether it will actually be equated to foreign currency. That is, it can be owned and traded, but not used. On the one hand, this will allow you to bring cryptocurrency out of the shadows, but on the other, officials fear that under the guise of such «white» market may occur «don’t know what».

Alexey Moiseev: 'In Russia they will never allow settlements in cryptocurrency'

Alexey Moiseev also said «Interfax», that Russia will not prohibit or isolate the Libra stablecoin developed by Facebook from the general mass of digital currencies and will apply general control rules to the asset.

Adding that the issue of transparency of ICOs will definitely be regulated and their conduct will be legally allowed.

In the Russian Federation, bills on the regulation of the cryptocurrency market are still being finalized and in the near future the State Duma plans to adopt a law on the CFA.

Previously Russian Bar Association sent to State Duma and the Bank of Russia conclusion with amendments to the draft Federal Law under consideration about CFA and crowdfunding, indicating that they does not disclose the concept, legal essence, nature and procedure for the circulation of digital financial assets.

text: Ivan Malichenko, photo: Ministry of Finance of Russia

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