On Dec. 23, Anatoly Aksakov, Russia’s congressional finance committee chairman, stated at a press conference in TASS that Russia’s law on cryptocurrency mining regulation is being postponed due to fears that it might act as a conduit for capital flight, according to the most recent report by Russian news agency TASS.

I will not name the organizations that slowed down the movement of the bill. At the same time, according to the critics of the bill, it could create channels for capital flight from our country.

Anatoly Aksakov

The lawmaker continued by saying that outwardly, it would seem to be the act of purchasing cryptocurrencies; but, in reality, the primary goal will be to remove money from the nation.

That danger is most likely present. Aksakov has said that he will meet with these critics and suggest that they collaborate on the conclusion of the matter.

Despite this, he predicts that the measure will be passed into law very shortly. Aksakov has high expectations that this procedure would be started in Russia in January, which would be the approval in the first reading.

This will take place if the lawmaker is successful in persuading the critics that their viewpoint will unquestionably be taken into consideration when the bill is revised for the second reading.

Aksakov said that they would probably postpone it in the event that he is unsuccessful, given the fact that they could have their own choices.

He said that in spite of this, he is certain that they will…