Russian authorities to regulate crypto-currency market by end of 2017

Russian authorities to regulate crypto-currency market by end of 2017

Russian authorities have agreed to regulate the crypto-currency market with a bill expected by the end of the year, Russia's Finance Minister Anton Siluanov said today.

"The president has spoken of the problems related to crypto-currencies. These are difficulties regarding ... money laundering and cases that are related to identification issues,” TASS cited Siluanov as saying.

"That’s why we have agreed that the state should regulate the issuing of crypto-currencies, their mining and turnover. The state should take all this under control,” the minister added.

Siluanov’s comments echoed his earlier calls to regulate the market for virtual currencies. Siluanov, however, has not elaborated yet on how his ministry sees regulation of the crypto-currencies market.

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