Russian lawmakers have again postponed the bill for the “best solution”


nnnIn the wake of communication with Russian media source Invest-Foresight, CoinDesk learned that due to a number of factors, the Russian National Legislature Working Group has once again postponed the work on the enactment of the monetary legislation. According to a member of the Working Group, it is not currently agreed that all stakeholders should agree on what the bill should be. The recent changes in the money market have also contributed to the reassessment of the move. At present, the working group is observing the market situation to understand the best solution.n
nnTranslation: Clovern
nAccording to a member of the drafting legislation group, a working group within the Russian national legislature has postponed the work related to the enactment of the encrypted monetary legislation.n
nIn communicating with Russian media source Invest-Foresight, Elina Leonidovna Sidorenko, a professor at the Moscow International Institute of International Relations at the Working Group, said that the process was at least delayed this winter due to a number of factors.n
nSidorenko said that it is important to note that not all stakeholders have agreed on what the bill should be achieved. The recent changes in the money market have also contributed to the reassessment of the move.n
nShe told Invest-Foresight (translation version):n
nn”In April, we announced that we would complete the bill in October, but the situation in the market allowed us to consider more options in addition to the main bill, and now all these projects are postponed, and we are observing Market situation to understand: which is the best solution?n
nnAccording to the professor, one of the points of view is whether the bill should exist as an independent measure or as an amendment to the existing law. The changing situation in the encrypted money market (she mentions the “violent volatility of prices” and the collapse of the BTC-e in the currency exchange) is also a matter of concern to some members of the Working Group to assess the progress made so far.n
nSidorenko went on to say that policymakers did not agree on more basic points, including the classification of the encrypted currency itself.n
nShe said:n
nn”This question is being actively studied, and if we do not solve the problem, we can not move forward to solve other problems …. We are trying to coordinate this issue with the ministries.”n
nnThe bill was postponed in December last year and is scheduled to be launched this fall.n
nThis attempt dates back to 2015 and is currently under the auspices of the Russian Ministry of Finance and has once been controversial to impose huge fines on those who issue or distribute so-called “currency substitutes”.n

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