Russian authorities to license cryptocurrency platforms — press service
It is also anticipated to introduce an obligation for market participants "to inform citizens about higher risks related to digital currencies".
The Concept for legislative regulation of digital currencies turnover provides that cryptocurrency platforms for operations in Russia should be licensed and have financial safety cushions, the Cabinet’s press service said on Tuesday.
"Protection of rights of the citizen, further to investors’ breakdown into qualified and nonqualified, will be supported on account of requirements to licensing of cryptocurrency platforms. In their turn, they will be obliged to have financial safety cushions for capital liquidity and adequacy," the press service said.
It is also anticipated to introduce an obligation for market participants "to inform citizens about higher risks related to digital currencies."
Source
The Concept for legislative regulation of digital currencies turnover provides that cryptocurrency platforms for operations in Russia should be licensed and have financial safety cushions, the Cabinet’s press service said on Tuesday.
"Protection of rights of the citizen, further to investors’ breakdown into qualified and nonqualified, will be supported on account of requirements to licensing of cryptocurrency platforms. In their turn, they will be obliged to have financial safety cushions for capital liquidity and adequacy," the press service said.
It is also anticipated to introduce an obligation for market participants "to inform citizens about higher risks related to digital currencies."
Source