Why Is Russia’s Crypto Regulation Treading Water? By Cointelegraph

Why Is Russia’s Crypto Regulation Treading Water? By Cointelegraph

One Step Forward and One Step Back: Why Is Russia’s Crypto Regulation Treading Water?

Russia has long been home to a vibrant crypto retail market, yet the nation’s regulation of digital assets still lags behind. As a spate of stakeholders and disparate regulatory authorities struggles to figure out a coherent policy framework within a bureaucratic system, much of the cryptocurrency industry remains outside the realm of regulated economic activity — to the chagrin of many entrepreneurs.

The central piece of crypto legislation — a bill called “On Digital Financial Assets” (DFA) — progressed through its first round of debate in Russia’s legislature in May 2018, but has remained in the works ever since, stranding the local crypto industry in legal limbo.

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