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Russian State Duma Representative Proposes To Ban Cryptos Worldwide

14:28 12/04/2019
Member Of Russian State Duma Calls For Global Crypto Ban

The representative of the Russian State Duma stated that it is necessary to establish a worldwide ban on cryptocurrencies, and those who distribute them should be punished according to the law on speculation, the Federal News Agency reports.


Nikolai Astafyev, Chairman of the State Duma on Economic Policy, Industry, Entrepreneurship, and Innovative Development, made a proposal to eliminate cryptocurrencies since their existence hinders the development of commodity circulation. He added that the production of money from money will have a negative impact on all the inhabitants of the planet and called the participants of the crypto market speculators.


According to the speaker, persons engaged in crypto operations should be prosecuted by law enforcement officers, but instead the society mistakenly encourages such activities, falsely accepting digital tools as a good for the financial systems of states.


It is noteworthy that the crypto legislation in Russia has not yet been approved. In 2018, a draft law “On digital financial assets” was submitted to the State Duma, which was substantially amended after the first reading. The second reading is scheduled for April 2019.


As previously reported, Roskomnadzor intends to ban the activities of the American company OpenVPN within the country.

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