The State Duma of the Russian Federation is considering a new law during its spring session that would regulate cryptocurrency circulation. A key feature would be the creation of a state platform aimed at the seizure and custody of digital assets. This information appeared on a major newspaper’s website under the section News.
According to the publication, Vladimir Kolokoltsev, who leads the government commission on crime prevention and serves as the minister of internal affairs, charged the Ministry of Finance with developing this platform for seizing cryptocurrency. The report underscores that the government is pushing this idea forward with official support from the State Duma.
Industry observers note that digital currencies are currently gathered and stored without robust regulatory oversight. Oleg Ogienko, who heads government relations at BitRiver and is a veteran figure in Russia’s crypto infrastructure, described the current handling as inadequate. He supported the notion of a state platform dedicated to storing seized cryptocurrency and argued that formal oversight would help bring order to the sector.
Looking back, there is expectation that Russian investors will see shifts by late 2023 as the country climbs into the ranks of top earners in the cryptocurrency market. The broader context suggests a transition period where regulatory clarity could influence investment flows and market dynamics.
There is also caution among Russians about the sensational aspects of Bitcoin trading, with warnings about casino-like features surrounding some crypto activities. This tension highlights the ongoing debate between innovation and regulation in the digital asset space. [Source: regional news summaries]