Russia Doesn’t Intend To Prohibit Bitcoin, Says Leading Parliamentarian

The head of Russia’s parliamentary finance commission recently mentioned about the latest suggested legal alterations He allegedly asserts that the measures will not proscribe digital assets like Bitcoin. The new amendments might even offer Russian cryptocurrency holders with limited property rights.

Several media reports in Russia had asserted that the Duma was mulling over issuing an absolute prohibition on digital currency transactions.

Recently, the head of the State Duma Committee on Financial Markets, Anatoly Aksakov acknowledged that the Central Bank is still against legalizing the use of digital currencies in Russia. He mentioned this during an interview with YouTube channel Prekrasnaya Rossiya. Nonetheless, he asserted that principal Duma financial politicians were not behind any calls for a prohibition on crypto assets.

Aksakov said,

“The proposed legislation states that if you acquire cryptocurrency, you must declare it. And this gives you legal protection. In principle, even if you do not declare it, nothing will change for you, except for the fact that your [assets] will not be subject to judicial protection.”

He added,

“The Central Bank believes that it is necessary to limit the ability to acquire [crypto], especially for people without expert knowledge who may be susceptible to making losses on investments.”