Russian Lobbyist Launches New Campaign Against Anti-crypto Legislation

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The Digital Rights center has initiated a lobbying campaign against regulatory initiatives that the organisation believe are impeding cryptocurrency adoption across Russia.

The lobby group has created a platform specifically to impede new laws that will prevent the turnover of cryptocurrencies and digital assets in Russia, in accordance with the objectives of Digital Rights Center, which was announced on Tuesday.

Founding Members of this also initiative include The Commission for Blockchain Technologies, the Digital Economy, Investment Russia as well as nonprofit organisation RosComSvoboda.

The movement known as the “Public initiative of the crypto community in Russia” claims that the proposals for additional restrictions for digital assets do not meet the needs of the market. The campaigner emphasised that Russia’s current laws ban the use of cryptocurrencies as payment and carry exorbitantly harsh penalties including jail terms up to three years for failure to report cryptoasset holdings.

The organisation has also introduced a public petition addressed to regulative bodies including the Ministry of Finance, the Ministry of Economic Development, the Bank of Russia, the Federal Taxation Service and the Russian State Duma Committee on Financial Markets.

Using the platform, the petition is to mount pressure on the authorities to reconsider their stance on Russian crypto regulations. The group also aim to prevent the implementation of four separate crypto focused regulatory initiatives, including Russia’s new crypto taxation bill. The State Duma approved the bill in the first round of reading in February.

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