Cryptocurrency Regulation Bill will be Adopted Before October 1

Anatoly Aksakov announced a new possible date for the adoption of the draft law on cryptocurrency regulation. According to the new plan, government departments will coordinate their positions in the next two months.

Chairman of the State Duma Committee on the Financial Market Anatoly Aksakov said that lawmakers should come to a common position regarding the legalization or prohibition of cryptocurrency before October 1. He noted that the readiness of the document is high, and only a few issues remain to be resolved.

“By October 1, this issue should be settled by law. Readiness is high … we will work hard in September, ”said Aksakov.

He noted that at the moment only one of the twenty bills, which were approved by the Cabinet of Ministers as priorities in this area, has been adopted. Aksakov said that a bill on investment platforms could be approved this week.

According to him, this law allows “to attract investments through platforms for different projects,” and also means requirements for investors and sites, in order to eliminate unscrupulous players from the market.

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Russian Deputy Finance Minister Alexei Moiseyev said last week that the draft law on regulation of cryptocurrency was “stuck” in the State Duma due to disagreements over the use of cryptocurrency. Aksakov previously expressed
fears that the adoption of the bill could be postponed until the autumn, although it was previously assumed that the law would be adopted before the end of July.