The government approved the plan of the Ministry of Finance to regulate cryptocurrencies


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The agency proposes to use Russian banks to sell cryptocurrencies, identify the owners of crypto wallets and other measures.

  • The Ministry of Finance and the Central Bank should prepare a joint bill by February 18, 2022, RBC writes , citing the minutes of the meeting with Deputy Prime Minister and Chief of Staff Dmitry Grigorenko and sources. The information was also confirmed by the source of The Bell.
  • On January 20, 2022, the Central Bank released a report in which it proposed new restrictions on cryptocurrencies in Russia without their prohibition. On January 27, the Ministry of Finance presented its plan to regulate cryptocurrency.
  • The agency proposed using Russian banks to sell and exchange cryptocurrencies, identify holders of crypto wallets, and divide individuals into qualified and unqualified investors.
  • The Central Bank criticized the position of the Ministry of Finance, adding that its approach threatens the emergence of a “parallel financial system.” On January 28, RBC reported that the Ministry of Finance, the FSB, the Ministry of Digital Development, and other departments agreed on a plan to regulate cryptocurrencies by the end of 2022.
  • According to Bloomberg, Putin supported the Finance Ministry’s ideas on regulating cryptocurrencies and allowing mining in certain regions.
  • On February 6, The Bell reported that the government expects to collect up to 1 trillion rubles in taxes per year on the crypto market.
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