Lawmaker affirms absence of intentions for complete cryptocurrency prohibition in Russia

Russia has no plans to make cryptocurrency turnover illegal, according to a statement from an official. Anton Gorelkin, a lawmaker and deputy chairman of the State Duma Committee on Information Policy, Information Technologies, and Communications, clarified Russia’s position on cryptocurrency turnover. In a post on Telegram, Gorelkin, who is also a co-author of a bill aimed at banning crypto exchanges in Russia, criticized news outlets for prioritizing sensational headlines over factual reporting. He did not rule out the possibility of lifting the restriction in the future, but explained that businesses operating in the crypto exchange sector in Russia could be exposed to Western sanctions due to “geopolitical realities.” The impact of the law on OTC crypto services in Moscow remains unclear.