• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
Buy Neo Pepe
No Result
View All Result
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
🚀 BUY NEO PEPE PROTOCOL 🚀
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Commerce Department To Release Blockchain Statistics, Says Lutnick
Russia Crypto Bitcoin BTC BTCUSD

Russia Will Not Ban Crypto; Here’s Why!

anushsamal
by anushsamal
3 years ago
·
Posted in Russia Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Central Bank of Russia had proposed a blanket ban on crypto just recently, however, there has been a change of plans. The Russian Government has now initiated a formation of a roadmap that will be responsible for introducing restrictions on cryptocurrency.

Related Reading | Russia’s Central Bank to Ban on Crypto Mining and Trading 

This roadmap in a way will facilitate an adoption with adequate curtailment of cryptocurrency, this will help to keep financial instability at bay. The roadmap is approved by the Russian Government and shall be presented to the public by the end of this year. This decision to introduce the roadmap goes against the Bank of Russia’s call to put a blanket ban on cryptocurrency. 

The working group members were from finance, digital, and even interior ministries along with the Central Bank, FSB, and the security service department. The Deputy Prime Ministry, Dmitry Chernyshenko has approved the roadmap for cryptocurrencies.

What this roadmap seeks to provide is a regulatory framework within which the cryptocurrency market would operate. It doesn’t want to ban cryptocurrencies but instead intends to focus on current violations that the industry witnesses, along with keeping an eye on the functioning of various crypto platforms.

What Exactly Do These Regulations Encircle

The Central Bank, through this roadmap, believes in having a regulatory and restrictive framework for cryptocurrencies. This change in stance comes after Putin insisted on arriving at a consensus regarding this matter.

He even agreed and acknowledged that although cryptocurrency carries a certain amount of risk that majorly stems from the volatile nature of the asset, cryptocurrency mining ensures a lot of competitive advantage to the nation. 

Since Russia has the advantage of being able to provide cheap electricity, it continues to remain the third-largest nation for crypto mining. 

“The central bank does not stand in our way of technical progress and is making the necessary efforts to introduce the latest technologies in this area of ​​activity,” ensured Putin. 

Primarily the regulatory body suggests having a Know Your Customer (KYC) feature and also Anti-Money-Laundering regulations for various cryptocurrency platforms. Not only that, but cryptocurrency platforms will also be provided with defined regulatory status for more awareness, a mandatory supervising body, and strict penalties for those who flout the rules and regulations. 

Other Key Aspects Of The Regulation

One of the most imperative features from the regulatory framework happens to be that cryptocurrency brokerage will be conducted through all Russian banking organizations solely. In order to implement this change, the Central Bank might stop other foreign crypto exchanges from operating in India.

Related Reading | Russian Authorities Consider Proposed Crypto Mining Project Using Associated Petroleum Gas

The rough timeline of events provided states that by May 22, the Russian government will be looking into the compliance control system. This particular stage will involve work around the attributes and functionality of the compliance control system. By the end of November, however, (FATF) Financial Action Task Finance for money laundering will introduce a system of regulations.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
anushsamal

anushsamal

Follow

Full Profile

Related Posts

Russia Advances With Digital Ruble Pilot

Russia Advances With Digital Ruble Pilot Amid Economic Tensions

2 years ago
russia

Russia To Launch $12.3 Million Crypto Mining Farm In Coming Months

2 years ago
Russia

Russia Mulls Enabling Crypto For Int’l Payments As Western Sanctions Bite

3 years ago
Bitcoin

Bitcoin Mining Farm – A Psychiatric Clinic – Uncovered In Moscow’s Oldest Prison

3 years ago
Russians

Russians Are Flooding Their Ventures To Dubai Using Crypto

3 years ago
crypto market

Russian Crypto Market Continues To Boom Despite The U.S. Sanctions

3 years ago
Please login to join discussion

Premium Sponsors

Press Releases

  • XRP retreats under pressure, while DOT Miners generates...

    5 hours ago
  • Rich Miner Launches New Cloud Mining Strategy: Secure 1,000...

    6 hours ago
  • XRP's

    Amidst XRP’s volatile price, holders are flocking to...

    6 hours ago
  • BAY Miner Launches Mobile App, Unlocking Daily Income...

    7 hours ago
  • BTC & XRP ETFs Fuel Market Buzz as Cloud Mining Surges...

    7 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Buy Neo Pepe

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.