Quote from: NileCoin ICO on March 08, 2018, 04:52:04 AM

As revealed in a report by the Russian parliaments official publication on March 1, Russian president Vladimir Putin has set a deadline on July 1 for relevant cryptocurrency legislation to be adopted in the country. Russian authorities are planning to pass new legislation that would effectively legalize cryptocurrency markets by summer 2018.

The report specifically points to two draft laws centered on blockchain technology that have been developed so far. Russias Ministry of Finance has put the spotlight on legal guidelines for the issuance of initial coin offerings (ICOs) while the countrys central bank has prepared a separate draft law on crowdfunding.

Two authorities have agreed upon the main regulatory moves on cryptocurrencies, save for one major contradiction when it comes to cryptocurrency exchanges operating in the country. In essence, the central bank isnt keen on retail traders and investors participating in cryptocurrency trading.

A separate bill on digital assets to be submitted to the Russian Parliament this month will aim to establish governance rules surrounding cryptocurrency mining. Individual entrepreneurs will be allowed to enter mining pools established by legally recognized entities and conduct activities to extract cryptocurrencies that do not fall under the criteria of industrial mining, said Alexei Mostovshchikov, chair of the Expert Council of the Youth Parliament under the Russian Duma.

Aksakov further stressed that both bills, from the central bank and the finance ministry, will be submitted to the chamber this month.

NilecoinTeam.

If this is true, it is a big boost for the market to regain again. I think the bull will starts to kicks in the moment it is implemented. Its been a months since I saw the green market, hoping I will see it in this coming month.

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