Share this article
Russian Government Resolves Disagreement on Draft Crypto Law
The Bank of Russia and the country's Finance Ministry have reportedly resolved a disagreement over the specifics of a proposed cryptocurrency law.
By Wolfie Zhao
Updated Sep 13, 2021, 7:42 a.m. Published Mar 20, 2018, 9:00 a.m.
The Russia Federation is inching closer to deciding on a law covering initial coin offerings (ICO) and the trading of crypto tokens within the country.
According to a report by Russian news agency RIA on Monday, Russian deputy finance minister Alexei Moiseev said that a jurisdictional disagreement between the Bank of Russia and the Finance Ministry over the content of a draft law to govern cryptocurrency related activities in the country has been resolved.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
As previously reported, the Finance Ministry has filed a draft that would impose a threshold for ICO activities in Russia as an effort to allow token sales under a regulated environment.
However, whether the law should allow these token offerings to be exchanged with Russian rubles and other assets drew conflicting opinions from the Bank of Russia, the country's central bank.
Now, as the country is eying a summer deadline to roll out the new law, the two government bodies have reached a consensus that the Bank of Russia's opinion will take precedent, according to Moiseev.
"Yes. The central bank will make a decision," he said.
According to RIA, the Bank of Russia said that it may now consider the option of allowing investors to exchange tokens issued under the proposed ICO framework with fiat currencies. However, crypto-to-crypto trading may not be permitted, in an effort to avoid "questionable" anonymous transactions, RIA said.
Alexei Moiseev image via Shutterstock
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Lighter trading platform sees $250 million withdrawn 24 hours after airdrop
Bubblemaps CEO says outflows seen on Lighter on Dec. 31 are not uncommon as users rebalance hedging positions and move on to the next farming opportunity.
What to know:
- Approximately $250 million was withdrawn from Lighter after its $675 million LIT token airdrop.
- The withdrawals represent about 20% of Lighter's total value locked, according to Bubblemaps CEO Nicolas Vaiman.
- Large withdrawals post-token generation events are common as early participants exit, says CertiK's Natalie Newson.
Top Stories
