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Russia is sending conflicting messages about cryptocurrency regulation

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Thomas Owens
Sep 13, 2017 06:29
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The Russian government recently revealed plans to regulate cryptocurrencies like securities, Finance Minister Anton Siluanov told reporters last week.

While this stance runs in contrast with China, which has just banned ICOs, it also marks a full reversal from Russia’s proposal last year to punish people who use digital currencies with up to seven years in jail.

Conflicting signals are still being given by various Russian officials and authorities, however.

On Sept. 4, the Russian central bank issued a public notice on the risks associated with cryptocurrencies and ICOs.

“Cryptocurrencies are issued by an unlimited number of anonymous entities,” the notice reads.

“Hence, citizens and legal entities can get involved in illegal operations, including laundering of illegal income and terrorism financing.”

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Thomas Owens
Sep 13, 2017 06:29
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