Russia does not have a comprehensive crypto ban plan, says the lawmaker

According to some reports, Russia will not block all cryptocurrency transactions in the country.
That's according to Anton Gorelkin, Deputy Chairman of the State Duma Committee on Information Policy, Information Technologies and Communications.

Reports that Russia is considering a total ban on crypto turnover in the country amid geopolitical tensions are false, a lawyer has said.

Earlier reports cited new legislation aimed at regulating the crypto ecosystem as Russia seeks to promote its digital finance system and ruble.

There is no restriction on crypto transfer.

On Monday, Anton Gorelkin, the vice-chairman of the State Duma's information policy, information technologies and communication issues, rejected these comments, which were previously reported to the State Duma officials.

Goreklin by A Telegram post While a new bill seeks to ban cryptocurrency exchanges in the country, it does not seek a blanket ban on crypto turnover.

Local media newspaper as well Bright Goreklin comments.

“It's surprising that even some respectable publications write that “representatives want to ban cryptocurrency transactions in Russia.”

According to the lawmaker, the new draft seeks to introduce mechanisms to detect illegal or criminal crypto transactions. If the intent is to outlaw everything, it doesn't make sense to have this in the bill, Goreklin added.

He stressed that Russia will not ban crypto turnover. However, its mission is to ban non-governmental crypto exchanges and other crypto platforms. Test programs.

The lawmaker also said that restricting crypto exchange operations is aimed at limiting exposure to Western sanctions.

Despite this, crypto users still find foreign exchange and over-the-counter (OTC) service providers.

Recent reports suggest that some Russians and business entities have ventured into crypto to evade sanctions scrutiny.