Deputy Prime Minister of Russia Dmitry Chernyshenko signed a roadmap for regulating cryptocurrency transactions in Russia. The map is designed for the period until the end of 2022, RBC reports citing a document whose content was confirmed by a source close to the interdepartmental working group that developed it.

“Participants analyzed international experience and developed a consensus that the infrastructure of the crypto market contains advantages and certain risks, therefore it is advisable to implement the concept of a regulatory and restrictive regime, rather than a complete ban,” the source said.

It follows from the document that the government intends to finalize the provisions of the “regulatory-restrictive regime” for the activities of virtual asset service providers, determine the status of market participants and the procedure for their activities, and also appoint a body that will regulate this area.

It is also planned to determine the degree of responsibility for crimes committed using cryptocurrencies. The document also emphasizes the need to form a mechanism for verifying the accuracy of the information provided on the ownership of digital currencies.

The preparation of the document was carried out by representatives of a number of departments, including the Ministry of Finance, the Ministry of Economic Development, the Prosecutor General's Office, Rosfinmonitoring, the Federal Security Service, the Ministry of Internal Affairs, the Federal Tax Service, the Ministry of Digital Development and the Bank of Russia. The publication clarifies that the proposals included in the "road map" were supported by all departments, except for the Central Bank.

Earlier it was reported that the Ministry of Finance of Russia prepared a concept for the regulation of cryptocurrencies, without the need for a ban.

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