Perkins Coie (JD Supra Russia)
UPDATED – Russia Issues Draft Legislation Prohibiting Virtual Currencies – Translation Available
The Ministry of Finance recently revised its proposed legislation banning virtual currency activity, reducing the applicable fines by approximately 20-50%. However...
Russia Issues Draft Legislation Prohibiting Virtual Currencies
Last week, the Russian Finance Ministry, in conjunction with the Ministries of Economic Development, Communications, Internal Affairs and Financial Monitoring, issued draft legislation amending existing Russian law to prohibit the distribution, creation and use of virtual currencies.