Russia’s State Duma is reportedly planning to review and adopt a cryptocurrency law to facilitate the creation of an oil-backed cryptocurrency.


Russia to Adopt Cryptocurrency Law

Russia’s lower house of the Federal Assembly, otherwise known as the State Duma, is reportedly planning to review and adopt a cryptocurrency law in March.

Oleg Nikolaev, a member of the Economic Policy Committee at the State Duma, says that the process is in its final stage of development and that, once approved, it will provide grounds for further development of blockchain technology and cryptocurrencies.

According to Russia’s former Energy Minister, Igor Yusufov, one of the first projects to place an emphasis on is the one proposed by the head of Energia Corporation for creating an oil-backed cryptocurrency.

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Source: https://thebitcoinnews.com/russia-oil-backed-cryptocurrency-in-final-stage-of-development/