Russia to Introduce New Cryptocurrency Laws – New Future Protocols

New crypto currency legislation is likely to be drafted for attention via Russia's federal legislature on December 28. This was communicated by a very senior administration officer.

Russian media sources R-IA and TASS cited feedback on fiscal markets to the committee, also the rules that would supposedly formalize principles around the production and swap of crypto currencies like Bitcoin.

The expected movement to publish a report additionally includes the weeks immediately after Vladimir Putin arranged fresh policies to become drafted around cryptocurrencies along with the blockchain, like rules exclusively geared toward initial coin offerings.

As reported by TASS, the next few weeks for Russia is when they will formally submit a proposal for how they can help regulate these coins whilst still preserving their integrity for the market.

New ideas have been speculated on the use and governance of the currencies, including additional taxations, security protocols, and enhanced consumer security. These changes were made to help the ballooning cryptocurrency market in Russia become more formalized, and to also provide their citizens with some additional protections.