Mishustin promised to direct the development of cryptocurrencies in a "civilized direction"

Russian Prime Minister Mikhail Mishustin said that the government is working to ensure that Russiansthose who owned cryptocurrency could protect their rights, and the creation of shadow schemes was difficult.

Interest in cryptocurrencies is constantly growing, thereforethe Russian government plans to direct their development into a "civilized channel," Prime Minister Mikhail Mishustin said at a government meeting on November 26. He explained that one of the decisions that will be discussed by the Cabinet of Ministers concerns the regulation of cryptocurrencies.

"The government plans to put the development of this market in a civilized way, so that the owners of such assets can protect their rights and interests, and the creation of shadow schemes was difficult," Mishustin said.

According to him, it is planned, in particular, to make a number of changes to the Tax Code, as well as to consolidate the recognition of digital financial assets by property, whose owners canto rely on legal protection in case of any illegal actions, as well as to defend their property rights in court.

In November, the Ministry of Finance prepared new amendments toThe Criminal and Criminal Procedure Codes of Russia, according to which cryptocurrency owners were proposed to be imprisoned for up to three years if they did not report to the tax authorities at least twice in three years about transactions with digital currencies in the amount of 45 million rubles. and higher.

Cryptocurrency regulation comes into force 1January 2021. In the summer, President Vladimir Putin signed the Digital Financial Assets Law, which defines digital currency and prohibits its use to pay for goods and services.

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