Russia Quietly Removes All Cryptocurrency, Smart Contract And Token Mentions In Digital Assets Bill

Russia Quietly Removed All Mentions Of Cryptocurrencies From Its Digital Assets Bill

It’s not easy to be a Bitcoin or crypto investor in Russia these days. Actually, it was never easy since the Bitcoin boom as the country has often shown a negative stance toward this revolutionizing asset. Now, the Bitcoin enthusiasts of the country will have to get ready for one more setback, as the government has delayed and changed a bill that would be very important for the community.

As it was reported by The Next Web’s Hard Fork, politicians from the country have removed all mentions to cryptocurrencies in the country’s digital assets bill. In any, fact, this was not the only setback that the community had at the time, as the bill was also delayed as well.

The bill, which is focused on how to regulate digital assets in the country and in the creation of some sandbox for their development in Russia, all mentions to three terms: cryptocurrencies, tokens, and smart contracts, were completely removed from the text.

Russia: The Country Of Crypto Ambiguity

Russia has been reported to be very slow in regulating its crypto market so far, so it is not surprising that the politicians from the country are still not ending this issue. This is unfortunate for the whole industry and the crypto market in the country, but it simply does not seem like the politicians from Russia care at all.

The legislation was considerably lacking and it probably will continue to be a long time yet. Because of this, it can be said that Russia is far from being the best place to invest in cryptos at the moment.

Also, there are many rumors involving Russia and cryptos, which only make the situation harder to actually understand. For instance, some people believe that Russia may be using cryptos to bypass foreign sanctions from the United States. Others believe that the country may be creating its own cryptocurrency.

The truth is that nobody has a clue of what Russia is actually planning, in case the country is actually planning something and not only postponing an issue that the local politicians simply do not want to deal with. What will be the future of cryptos in Russia? Nobody knows, but follow our blog and you will find out.

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