Investing Into Cryptocurrency In Russia Funds

Investing into cryptocurrency in russia funds

Investing into cryptocurrency in russia funds

Crypto Remains Unregulated in Russia — Lots of Talk but No Action

Cryptocurrency NewsDec 18, 2019 12:41AM ET
Crypto Remains Unregulated in Russia — Lots of Talk but No Action

At the end of November, news surfaced that Russian cryptocurrency users, who have been operating in a regulatory gray zone, could soon be at risk as the nation’s financial authorities reportedly join forces to outlaw the use of digital assets as a payment instrument.

Shortly after, the country’s interior ministry confirmed rumors that it was on track to developing a legal framework for confiscating digital assets, which could come into effect as soon as 2021.

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Finally, the head of Russia’s main financial intelligence agency, the Federal Financial Monitoring Service, has also spoken unfavorably before parliament about the prospects of legalizing crypto use.

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Investing into cryptocurrency in russia funds