Russian Finance Ministry Says Crypto Regulation Compromise Coming ‘Within a Month’

cryptonews.com:

Moscow has also set itself a new deadline on crypto regulation, claiming that it will broker a consensus on the matter “within the space of a month.”

“Everything is happening actively in the government. I think that some kind of decision will be taken quickly. My expectation is that [the decision] will be made within the space of a month,” the Deputy Finance Minister, Alexey Moiseev, stated, per Interfax.

However, Moiseev conceded that the “main point” of common ground was that “both we and the Central Bank are against [crypto] settlements. Unfortunately, this will likely provide precious little in terms of grounds for discussion – as crypto settlements have already been outlawed in Russia.

He continued:

“It is not yet very clear how we will [climb down from our repsective] positions. But we do not want to abandon the option of a compromise in the future. I think that as we work [on the matter], some kind of compromise will be formed.”

The news comes after reports emerged claiming that the Russian government values the domestic crypto market at the USD 214bn mark – a volatile figure that would put around 10% of all the crypto in circulation in Russian hands.

Bloomberg reported that “two sources” described as being “close to the Kremlin” had explained that Moscow has drafted crypto holdings estimates by examining a number of data indicators, including the IP addresses of some of Russia’s busiest crypto exchange users.

As reported, President Vladimir Putin last week stepped in to urge an end to the years-long deadlock between pro-crypto forces in the government and the staunchly anti-crypto Central Bank. With crypto adoption on the rise in Russia and mining-related issues now becoming pressing, parliamentarians had attempted to