Russian draft law aims to introduce strict requirements for platforms providing crypto-related services.
’s approach but there’s also a general consensus against allowing payments with any other currency than the ruble.The draft law “On Digital Currency” is going to impose strict requirements for crypto platforms working in the Russian Federation. An “exchange operator,” which offers purchases and sales of digital currency on its own behalf and at its own expense, will have to keep at least 30 million rubles of capital.
The requirements are “extremely overstated” and only the largest financial institutions will be able to meet them, blockchain lawyer Mikhail Uspensky commented for the Kommersant. Besides, only Russian entities will be permitted to apply for the role of crypto operators. Foreign exchanges, for example, will have to establish a local subsidiary to obtain a license but many of them may be prevented from doing so by mounting western sanctions over Russia’s war in Ukraine.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Epic Games raises $2B for Metaverse, Mastercard scales NFT plans and Ripple scores big win against SEC: Hodler’s Digest, April 10-16Ripple Labs has scored a huge win against the SEC, Coinbase halted crypto payments services in India and crypto regulation is set for Brazil.
Read more »
Argentinian Securities Regulator Launches Innovation Hub to Discuss Regulated Crypto Investments – News Bitcoin NewsThe National Securities Commission (CNV), the Argentinian securities regulator, is taking action to streamline the arrival of fintech and crypto instruments to market.
Read more »
Crypto Markets Lost $80 Billion in a Day as Bitcoin Dumps Below $40K (Market Watch)Bitcoin dumped to a monthly low beneath $39,000, and the crypto market cap declined by about $80 billion in a day.
Read more »
Fidelity Investments Launches Crypto, Metaverse ETFs — Says 'We Continue to See Demand' – Finance Bitcoin NewsFidelity Investments, with more than $11 trillion under administration, has announced the launch of crypto and metaverse ETFs. cryptocurrency bitcoin
Read more »
Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament – Taxes Bitcoin NewsA bill updating Russia’s tax law to incorporate provisions pertaining to the taxation of cryptocurrencies has been filed with the State Duma.
Read more »
SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale – Regulation Bitcoin NewsGrayscale Investments' CEO explains that the U.S. Securities and Exchange Commission (SEC) could potentially violate the Administrative Procedure Act by not approving a spot bitcoin exchange-traded fund (ETF).
Read more »