Moscow policymaker calls for stricter crypto rules as Russians turn to digital assets [Yahoo! Finance]
Similarweb Ltd. Ordinary Shares (SMWB)
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Source: Yahoo! Finance
Yevgeny Masharov, a member of the Civic Chamber of the Commission for Public Review of Bills and Other Regulatory Acts, told RIA Novosti that the state must do more to police digital assets. “We must launch legislation to regulate cryptocurrency circulation as soon as possible,” Masharov said. “All transactions outside [licensed platforms] need to be outlawed. We must introduce criminal liability for illegal cryptocurrency transactions.” His call for stronger regulation comes as a combination of factors has driven Russians to adopt crypto. “The combination of a weakening ruble, capital controls, and international sanctions has accelerated adoption,” Ari Redbord, the vice president and global head of policy and government affairs at the blockchain intelligence provider TRM Labs, told DL News . “This is both for legitimate financial access and, in some cases, for sanctions evasion.” Redbord added that TRM's data “shows that the vast majority of Russian crypto activity remains l
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