January 25, 2018 / 9:00 AM / a year ago

Russia's finance ministry ready to regulate, not ban crypto-FX

MOSCOW, Jan 25 (Reuters) - Russia’s finance ministry said on Thursday it was working on legislation that would regulate crypto-currency transactions without fully banning them, although it would not let digital FX be used as a mean of payment in Russia.

The finance ministry said its legislation on crypto-currencies and ‘initial coin offerings’ envisages allowing such deals only through digital exchanges.

The ministry said its plan to regulate the crypto-currency market would support the budget, while a full ban on such instruments would create condition for using them for illegal purposes. (Reporting by Andrey Ostroukh; Editing by Toby Chopra)

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