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Putin Urges Lawmakers to Hurry up Blockchain, Crypto Sandbox Progress

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,

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