Crypto Ban: Russian Regulators do not want Legislators to Ban Crypto
A report coming from Russia has revealed that the country Ministry of Economic Development has frowned against the draft bills which was introduced by lawmakers.
"If the bills are successfully passed, Russia will have its first regulation for crypto and other digital assets which would also ban any businesses facilitating crypto transactions"
The ministry points out that people can still purchase crypto assets elsewhere, according to the Russian newspaper Kommersant, which has got the letter, but the current version of the letters will not allow the government to protect their rights. Crypto-oriented businesses will also be forced out of the region, hurting the economy.
The Ministry argues that the new regulations should take a different approach and work on establishing a 'controllable cryptocurrency market' in Russia.
People do not want government to ban crypto and they also want their right to be protected.
Can the government achieve a totally controllable cryptocurrency market ?