Russia’s Economy Ministry Calls for ‘Controllable Market’ Rather Than Crypto Ban

[Paglamon]

ia’s Economy Ministry Calls for ‘Controllable Market’ Rather Than Crypto Ban

The Russian economy ministry is pushing back against the nation’s planned ban on cryptocurrency.

In a letter to the country’s parliament, the nation’s Ministry of Economic Development criticized a package of draft bills recently introduced by lawmakers. If passed, Russia would at last have its first regulatory regime for crypto and digital assets – but would also effectively ban any businesses facilitating crypto transactions.

According to the Russian newspaper Kommersant, which obtained the letter, the ministry points out that people will still be able to buy crypto assets elsewhere, but the current version of the bills would not allow the government to protect their rights. Crypto-oriented businesses would also be driven outside of the country, harming the economy.

Instead, the new rules should take a different approach and work on creating a “controllable cryptocurrency market” in Russia, the ministry argues, according to the report.
Source: https://www.coindesk.com/russias-economy-ministry-calls-for-controllable-market-rather-than-crypto-ban

[Alcor]

Finally, there were sensible people in Russia who voted in favor of cryptocurrency and at the same time argued that its impending ban on circulation would only harm the country's economy and leave citizens who would use it without any protection. However, they are hardly ready to hear the voice of reason. Putin’s deceitful and reckless policies in the international arena are leading the country to collapse, and there it is no longer up to such trifles as cryptocurrency.

[Senin]

It is unlikely that Putin will now heed the sensible advice of one of his ministries. He has so many problems now that he is clearly not up to the cryptocurrency now.