The RF Ministry of Finance officially initiated work on the bill on regulation of cryptocurrencies by submitting the first public notice on the federal legal portal.
The ministry has filed two notices announcing that it has begun the process of developing a legal framework for activities related to digital currency transactions and issuance.
The first notice informs of the government’s launch of a public consultation on rules for digital asset transactions involving inputs from financial market participants, citizens and legal entities. The second notice details a similar process for possible amendments to other federal laws.
According to the notices, the Department expects to complete public consultation on the cryptocurrency bill by March 18.
The bill itself has not been published. The department expects to release the document in the next three weeks, according to a ministry spokesperson.
“The public discussion procedure is taking place in several stages. We are currently at the starting stage of informing about the beginning of development,” said the representative.
Russian Finance Minister Anton Siluanov expects the cryptocurrency bill to be passed by the end of 2022.