The Russian State Duma could approve a long-anticipated cryptocurrency bill within the next couple of weeks, according to a Tass media report. In remarks to journalists, Deputy Finance Minister Alexei Moiseev suggested that the country’s parliament could accept the bill in the second reading:
"Now we are looking at the text [of the bill on digital financial assets] and within two weeks, I hope, we will come out for adoption in the second reading."
State Duma Committee on the Financial Market head Anatoly Aksakov had previously declared the draft law “stuck” due to concerns that the bill’s language did not meet FATF requirements.
Moiseev’s remarks could be seen as evidence that legislators have made progress in efforts to address those concerns. According to him, the parliament has already approved language to deal with initial coin offerings (ICOs). He said that regulations addressing those offerings were approved in their second reading.