The Ministry of Finance supported a number of proposals from law enforcement agencies to finalize the bill on the regulation of cryptocurrencies. They want to fix in the document that crypto exchanges and crypto wallets are required to provide data to investigators along with the courts and prohibit advertising of such sites without a license. In addition, the bill will clarify the procedure for the arrest of digital assets. Such initiatives are presented in a summary table of comments on the project (Izvestia has it). According to experts, the regulation of mining and its taxation still requires improvement. The State Duma expects the bill to be introduced in May.
So, the FSB proposed to oblige crypto exchanges and crypto wallets to provide information to law enforcement agencies along with the courts, the report says. In addition, the service advocated the harmonization of requirements for the storage and protection of information on the circulation of the crypt with the authorized bodies, follows from the table. The FSB also pointed out that the bill obliges exchanges to report to the authorized body the identification features of cryptocurrencies, but does not regulate their “composition, nature and formation procedure,” the document says.
The Ministry of Internal Affairs believes that the bill does not fully regulate the procedure for the execution by exchanges of a court order on the arrest of cryptocurrency and the creation of a wallet for storing seized or confiscated assets, follows from the table of comments.