A ban on cryptocurrencies in Russia will lead to a surge in black markets: the justice of the country

Запрет на криптовалюты в России приведет к всплеску на черных рынках: Минюст страны

A bill banning cryptocurrencies has been proposed by the legislative body of Russia, but he criticized the Ministry of justice of the country. The justice Ministry has criticized the draft law on digital assets, because it creates further uncertainty.

This is stated in the commentary to the proposed bill, prepared by Denis Novak, Deputy Minister of justice, where the bill was criticized for inconsistency, writes portal “cryptopolitan”.

The Ministry also confirmed that comments received from them, and they were sent to analytical centres Digital Economy, which work together with government on policy issues.

The Deputy Minister noted that the responsibility for individuals for trafficking cryptocurrency, which provides for fines and imprisonment for a term not exceeding seven years, contrary to the sectoral legislation and entails an inconsistency between the requirements of the draft laws.

Last week, the economy Ministry has sent to the Duma a letter criticizing the new version of the bill. The regulation is aimed at the complete prohibition of the production and circulation of the existing types of cryptocurrencies, the criminalization of activities of legal entities and individual entrepreneurs related to the issuance and circulation of scriptaction.

On Tuesday, the Ministry of justice did not approve the draft regulation after it was proposed in March, but is believed to its pushed stakeholders in the Central Bank of Russia, known for its hostility toward cryptocurrency.

A bill banning cryptocurrencies have stumbled upon a hostile reaction on the part of the cryptocurrency community.

As he wrote Coinews, unlike Russia, Kazakhstan is striving to attract investments in the amount of $ 740 million through a variety of activities related to mining of cryptocurrencies over the next three years.

The portal Coinews informed that the Chairman of the Committee of the State Duma on the financial markets Anatoly Aksakov said that the cryptocurrency law of the country – the draft law “On digital of financial assets” – albeit modified, but before the end of spring 2020 will not be accepted.

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