The Ministry of Finance of the Russian Federation proposes to limit the purchase of cryptocurrency for individuals

Source: RIA Novosti / Vladimir Astapkovich



Deputy Finance Minister Alexei Moiseev believes that crypto-currency must be regulated as a financial asset. That is, its purchase should be allowed only to qualified investors on the Moscow Stock Exchange. If an ordinary citizen wants to buy a cryptocurrency, he will have to be tested to become an investor.



“There is a point of view that such cryptocurrencies as Bitcoin is a financial pyramid. From this point of view to argue hard. Investments such are risky. This determines our approach to their regulation. We propose to regulate this as a different property and classify them as a financial asset. And allow only a qualified investor to buy and sell them on the exchange, ”Moiseyev said during an interview with the Russia 24 TV channel.



According to Moiseyev, this is not just an opinion, the corresponding actions to implement the plans are already being carried out. In particular, the Ministry of Finance is discussing the issue of restricting access to cryptocurrencies with the Central Bank of the Russian Federation and the Moscow Exchange. The Office plans to ensure that investors can work with Bitcoin and other cryptocurrencies through the Moscow Stock Exchange.



“This is done in order to protect the rights of buyers and sellers so that the contract can be enforced if one of the parties to the contract turns out to be unfair. Now it is impossible. Now people do it at their own peril and risk, they have no legal protection. This is our first task, ”said Moses.



He also said that cryptocurrency is now often used for illegal operations. Therefore, such situations should be warned: “We see that in Western Europe and we have even increased the use of cryptocurrencies for illegal operations. This is due to the fact that the mechanisms to combat money laundering are not fully applicable to cryptocurrency. This is the second task, why through the exchange. So that the regulator in the face of Rosfinmonitoring always knew who sells and who buys these bitcoins. Because now there are precedents when money is laundered through the purchase and sale of bitcoins. This needs to be ruled out. ”



In general, the authorities' attitude towards cryptocurrencies is twofold, and so far lawmakers cannot decide whether to prohibit bitcoin and other cryptomonettes, or it is not necessary.