A Russian ministry is standing up for the digital currency industry against a proposed blanket ban that could see harsh penalties on digital currency users. The Ministry for Economic Development believes that banning will only lead to the rise of an uncontrolled black market.
Earlier this month, the State Duma made public a new draft law on digital assets. If approved, it could have significant effect on Russia's digital currency industry. The draft law recommends jail terms and hefty fines for digital currency users and trading platform operators.
