April 26, 2024

The Ministry of Justice of Russia also criticizes the proposed crypto ban

The Ministry of Justice of Russia also criticizes the proposed crypto ban

A new Russian bill banning cryptocurrency transactions in the country has again received little criticism.brilliant test by the government.

The country's Ministry of Justice made a newruling against the project, a week after the Ministry of Economic Development also criticized it. The bill was introduced by lawmakers in March, but is widely believed to be the brainchild of the country's central bank, which is taking a prohibitive approach to cryptocurrency. The proposal was met with some harsh reactions from the Russian crypto community following its disclosure.

According to the Russian newspaper Izvestia, Deputy Minister of Justice Denis Novak prepared a ministry commentary on the bill, in which he criticized the inconsistency of the proposal.

Denis Novak wrote a response, adding that his reviews were sent to the Digital Economy Analytical Center, which works with the government on political issues.

The bill says that Russians should notbe able to use the country's infrastructure to conduct any operations with cryptocurrency, but individuals are allowed to inherit coins or accept them as a result of the bankruptcy process of the counterparty.

Cryptocurrency can also be seized, like any other type of property with a court order.

The Department of Justice indicated that it is not clear what the courts will be able to do with the confiscated cryptocurrencies.

Instead, the ministry suggests choosing a government agency that will be allowed to help Russians sell cryptocurrencies abroad.

Meanwhile, the sponsor of the bill, deputyAnatoly Aksakov told the TASS news agency that the part of the bill relating to digital securities is ready for adoption and will soon undergo a final hearing. According to Aksakov, the issue of banning cryptocurrencies, including additions to the Russian criminal code for violations, requires further discussion.

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