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Russian Draft Bills Threaten To Halt Crypto Growth In The Country
Summary: In early May Russian legislators proposed bills which would effectively ban crypto transactions within the country's borders, according to reporting by coindesk.com. If passed, one of the bills would not allow cryptocurrencies to be issued from servers within Russia, meaning local crypto businesses would either go out of business or be forced to relocate, coindesk.com ...
In early May Russian legislators proposed bills which would effectively ban crypto transactions within the country's borders, according to reporting by coindesk.com.
If passed, one of the bills would not allow cryptocurrencies to be issued from servers within Russia, meaning local crypto businesses would either go out of business or be forced to relocate, coindesk.com noted.
The proposed bill has been met with a barrage of protest letters from crypto advocacy groups arguing that Russia could lose $10 billion in tax revenue annually if the bill is passed and that the bills would prevent Russia from participating in global technical infrastructure, coindesk.com reported.
By Emily Mason
Tags: Cryptocurrency,Legislation,Russia
Link: Russian Draft Bills Threaten To Halt Crypto Growth In The Country [Copy]
