The proposed ‘digital assets’ law aims to “legalize ICOs” in Russia and is expected to be reviewed in May. But lawmakers are slowly realizing the futility of regulating Bitcoin and cryptocurrency that are un-regulatable by design.
Russia’s ‘Digital Assets’ Bill Would Legalize ICOs
Earlier this week, Russia’s Deputy Finance Minister Alexey Moiseev shared his thoughts on the country’s developing cryptocurrency laws. Speaking on the sidelines at the Economic Forum in Yalta, the Minister says the main aim of the proposed ‘digital assets’ law is to legalize ICOs.
He added that he expects the bill to be reviewed by the Duma in May.
As I understand, the aim of the proposed law is ICO legalisation. I believe the main goal is to make the ICO—which is a very easy way to raise some capital—convenient for small tech businesses.
The minister also noted that that the topic of anonymity and anonymizing cryptocurrencies (such as Monero etc.) have come up during discussions of the draft law.