Russia's Ministry of Finance proposes ban on crypto circulation

According to a report from Frank Media, sources “familiar with the matter” said the Ministry of Finance has proposed a ban on the circulation of cryptocurrency in the country but has carved out exceptions for stablecoins and the sale of cryptocurrencies by miners.

The Ministry of Finance wants to introduce provisions into the current law and the crypto-mining legalization bill that would make it “prohibited to organize the circulation of digital currency, with the exception of organizing the circulation of digital currency in terms of mining, including participation in a mining pool.”

Several law enforcement agencies have pushed back against the new proposal due to concerns that the wording is too broad and will lead to a ban on organizing the circulation of digital currency as a whole.

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