#Russia

According to Russian Economic Development Minister Maksim Oreshkin, the global development of cryptocurrencies resembles a pyramid scheme.

After initial hesitancy concerning bitcoin and blockchain, Russia is now embracing the new suite of technologies — and Waves is at the forefront of the movement.

Russia’s National Settlement Depository (NSD) is considering building a platform to serve digital assets including cryptocurrencies and tokenized assets.

This spring an interdepartmental working group on cryptocurrencies in Russia has started working on a bill that would legalize cryptocurrencies in the country. There are numerous rumors and talks concerning this paper, however, nobody actually has any reliable and systematic information in this regard.

Russia’s business ombudsman Boris Titov offered Elvira Nabiullina, the chairwoman of the country’s central bank, to use Japan’s experience in cryptocurrency regulation.

Russian parliament plans to review a bill that legalizes cryptocurrencies this September. According to Elina Sidorenko, the head of the parliament’s working group of cryptocurrencies, the bill, however, does not include provisions as to tax regulation of virtual money.

According to Russian state-owned news agency TASS, the country will open the first competence center for blockchain research under the auspicies of Russia’s state-owned bank VEB, as well as experts from Ethereum and Exonum, which is BitFury’s platform.

Vadim Dengin, a member of the Russian parliament’s working group on cryptocurrencies, that the issue of regulating cryptocurrencies in Russia will be brought up for discussion during parliamentary hearings.