Approval of Crypto Regulation Bill Finds Trouble; Announces Aksakov By CoinEdition

• Anatoly Aksakov announced the major reason for the delay in the bill on crypto regulations in Russia.
• The reason cited was the concerns over the possibilities of the bill facilitating capital flight.
• He assured that soon the bill would be approved if he is able to convince the critics.

Anatoly Aksakov, the Chairman of the Financial Market Committee of the State Duma and the Chairman of the Council of the Association of Banks of Russia, announced that the cryptocurrency mining regulation bill is delayed regarding the concerns that it could serve as a conduit for capital flight.

Previously, on November 17, a new bill was introduced into the State Duma to legalize crypto mining and sale in Russia. Based on the law, Aksakov said that the “passage of the law will bring this activity into the legal field, and make it possible to form a law enforcement practice on issues related to the issuance and circulation of digital currencies”.

On Friday, during the press conference in the Russian news agency, TASS, the attorney mentioned the main objective of delaying the bill:

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