September 17, 2019


Russia to Ban Selling Bitcoin to Individuals

Russia’s ministry of finance intends to ban selling bitcoins to individuals, the deputy minister of finance Alexei Moiseyev stated in his interview with Rossiya-24 news channel.

According to him, the ministry proposes to consider cryptocurrencies a financial asset, and sell them via the Moscow Stock Exchange under the supervision by the Rosfinmonitoring.

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Only qualified investors will be able to access buy and sell operations.

Earlier, the head of the interdepartmental working group on cryptocurrencies Elina Sidorenko told ForkLog that the bill introducing cryptocurrencies to the country’s legal terrain included provisions on establishing private exchanges for individuals and legal entities. She said that those platforms had to be private in order to avoid state monopolism for cryptocurrencies.

Sarkis Darbinian, the head of legal practices at NPO Roskomsvoboda, on the other hand, suggested that certain bans are not off the table as the authorities seeks to control currency flows.


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