According to local reports, Russia will not go out of its way to ban Libra, a crypto asset created by the Libra Association, an international consortium started by Facebook.
Alexei Moisseev, the deputy finance minister of Russia, told publications that a legislative framework for crypto assets will soon be formed and Libra is likely to fall under it.
For many years, analysts anticipated Russia to release a regulatory framework for crypto assets and blockchain-related entities following the order of Russian President Vladimir Putin in February to adopt regulations for the crypto sector.
Further, Moisseev’s statement directly contradicts a recent state press report that suggested Libra will be outlawed.
Reference: https://www.ccn.com/crypto/russia-wont-ban-facebook-libra-full-crypto-regulation/2019/07/02/
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