Russian MinFin backs pilot cryptocurrency trading on exchange, against banning its circulation - source

MOSCOW. July 17 (Interfax) - The Russian Finance Ministry has proposed that legislators remove from the bill on the regulation of digital currency the ban on its circulation in Russia as well as the ban on its sale by Russian miners using domestic information infrastructure, a source familiar with knowledge of the matter told Interfax.

The source said the ministry had drafted an updated government opinion based on the results of a meeting held on July 1 with the deputy head of the presidential administration, Maxim Oreshkin. The source said the ministry also proposed to remove from the bill the ban on advertising goods, work and services related to digital currencies, and to allow exchange trading in cryptocurrency in pilot mode, as planned for foreign trade settlements from September 1.

Two relevant bills are at the State Duma and are due to receive their first reading on July 23.