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Home » The Ministry of Finance proposed to allow foreigners to remotely buy cryptocurrency in Russia

The Ministry of Finance proposed to allow foreigners to remotely buy cryptocurrency in Russia

James by James
February 17, 2022
in Altcoin News
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The Ministry of Finance proposed to allow foreigners to remotely buy cryptocurrency in Russia
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The agency will also consider limiting the number of cryptocurrencies that will be traded in the country.

Foreigners will be able to purchase cryptocurrency on Russian exchanges only on the condition that the funds are withdrawn through Russian banks, Interfax writes with reference to the explanations of the Ministry of Finance to the concept of regulation of cryptocurrencies.
Also, non-residents will be able to access foreign platforms that will open a representative office in Russia.
The Ministry of Finance believes that foreign investors may be interested in buying cryptocurrencies from Russian miners.
In addition, the agency will consider limiting the number of cryptocurrencies that will be traded in the country in order to protect investors. Foreign cryptocurrency exchanges often do not check projects before listing, allowing fraudulent assets and cryptocurrencies of financial pyramids to trade, the Ministry of Finance noted.
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.
On February 8, 2022, the government approved the plan of the Ministry of Finance to regulate cryptocurrencies. The agency, together with the Central Bank, must submit a bill by February 18.
#news #minfin #cryptocurrencies

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James

James

James is a 33-year-old cryptocurrency enthusiast who has been involved in the industry since 2017. He has always been a keen follower of the crypto space and has experience in trading and mining cryptocurrencies. Since then, James has also written numerous articles on the subject and is passionate about sharing his knowledge and insights with others.

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