The Russian Ministry of Finance has announced its intention to introduce KYC guidelines for cryptocurrency purchases, amidst increased user adoption across BRICS nations.
Russia Has Come a Long Way in Recent Months With Regards to Its Regulatory Position on Cryptocurrencies
The move in favor of greater identity verifications being introduced for cryptocurrency purchases comes following a string of announcements expressing a desire to move toward more permissive, regulated legal apparatus surrounding the circulation of digital currencies within Russia.
The announcement comes less than two months from the expected completion of the Russian Ministry of Finances drafting of regulatory proposals for the cryptocurrency economy. The proposals are expected to comprise an expansion upon current legislation applying to financial instruments like derivatives.
Russia has come a long way in recent months with regards to its regulatory position on cryptocurrencies. Russia attracted great attention in early 2016 after considering introducinglegislation that would to jail cryptocurrency users, following several years of erratic tooing-and-froing with regards to bitcoins legal status.
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Russian government to introduce KYC guideline for crypto currency purchases
Submitted by sadiqhirani, 12-06-2017, 08:48 AM, Thread ID: 36172
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