Russian President Vladimir Putin wants his cabinet speed up the rollout of crypto and blockchain regulatory sandboxes to stave off economic recession – even if lawmakers continue to drag their feet over crypto legislation.
As reported, an industry insiders told Our that Russia’s latest draft crypto bill – which proposes a partial crypto crackdown, favored by the Central Bank – will likely hit the buffers. They said the bill will probably not pass parliament for “up to a year,” with the nation’s Ministry of Economic Development (known locally as Minek) opposed to industry-damaging bans.
However, Putin – who has stayed largely out of the impasse so far – is afraid that the country’s IT industry may suffer in the wake of the coronavirus pandemic. Per RBC, he has told his cabinet to hurry up and commence work on a number of proposed IT sandboxes – all slated to be policed by the Central Bank.
The media outlet quotes Putin as stating,