A legislation dealing with cryptocurrency is expected to be introduced in Russia on December 28 according to a senior government official.
Russian media outlets RIA and TASS  have cited comments made by lawmaker Anatoly Aksakov, who is the chairman of the State Duma’s financial markets committee, that the new bill, which is expected to contain rules related to the creation and exchange of cryptocurrencies, will be passed next year.
An RIA report quoted Aksakov as saying that the draft law on cryptocurrencies will be possibly adopted in March .
He is further quoted as saying that many people in the country had been scammed while dealing with cryptocurrencies so a framework was needed for guiding people to work legally with it and also to protect them .
Russia’s Cryptocurrency Law Delayed Â
These reports confirm that Russia is not likely to pass the bill by this year-end, as indicated by Aksakov previously.
The legislator had indicated in September that work on the cryptocurrency laws could be wrapped up before the year-end.
Legislation on Cryptocurrency was mooted in the country after Russia’s President Vladimir Putin ordered early this year that laws be developed for regulating cryptocurrencies and blockchain, including rules for initial coin offerings (ICOs).
The measure has faced delays due to disagreements over the scope of the laws.
Media outlet TASS quoted Aksakov as saying that the work on the legislation was progressing keeping in mind the deadlines set by Putin’s orders. He added that a debate on the bill will be held a week after it is tabled in the legislative houses .
