The Russian authorities will regulate cryptocurrency by using the recommendations of FATF
Dmitry Peskov, the special representative of the President of the Russian Federation for digital development, in an interview to the channel “Russia 24” announced about the intentions of Russia to implement the regulation of cryptocurrency in partnership with the intergovernmental organization against money laundering FATF (Financial Action Task Force).
Peskov pointed out that one of the main features of virtual money is their global nature. He explained that they were intentionally designed so as not to fall under the national regulatory tools. Therefore, the Russian authorities have concluded that it is necessary to act jointly by global regulators. The choice fell on FATF, since the risk of financial pyramids, as well as uncontrolled emission of cryptocurrency, is too great.
The representative of the president does not exclude the possibility of creating a separate direction of law for this sphere, drawing parallels with the antitrust regulation.
FATF is expected to develop official standards for cryptocurrencies at the end of this year. The Russian authorities are planning to adopt these recommendations aimed at combating the laundering of illegally obtained capital in cryptocurrency markets. However, Russia has yet to finalize its own laws relating to digital assets.
Why the regulation of crypto currency is merely a pipe dream by your government and why it will NEVER happen. Firstly, you cannot regulate or control that which does not belong to you. Crypto currency exists in a domain that was not created by any state government. Blockchain is a technology that is not controlled by any one single entity. Unlike your bank account which can be taxed, liened, levied, raided, sanctioned and frozen, crypto currency cannot be hacked or taken over by the government. Most all countries' laws and legislation are written by central banks and their attorneys serving the special interests of the banks. All fiat money are property of the banks. The use of their fiat/scrip gives them the right to regulate and control it which is why they can tell us how much cash we can withdraw per day from their ATM machines. At birth, corporate governments create a secondary title named after the name given by your parents. This name expressed in ALL CAPITAL letters (i.e. JOHN HENRY SMITH) and stored as such in all government database systems and bank accounts are not the names of living men and women, instead it is the name of a corporation trust created by the state. It is merely an artificial construct or a graven image of you. The child's birth certificate is the actual creation of this title or corporate estate trust. There is a reason why public school taught us in first grade to express our names in ALL CAPITAL LETTERS, in order to identify ourselves with that property that belongs to the state. You are not the owner of the property related to JOHN HENRY SMITH, your body and the labor it produces has been pledged as the property of the JOHN HENRY SMITH estate/trust which does not belong to you until you have legally claimed it or filed a commercial lien against it in order to control it. That is why you are required to pay income tax because you own a use tax for the use of this ALL CAPITAL letter name. What is a tax? It is the royalty payments on the use of someone elses property. If you pay property tax, its not your property. You are only the legal owner, not the equitable title owner. This is how they steal our hard earned labor. When you open a bank account, that account is registered in the name of that secondary title in ALL CAPITAL letters from your registered birth certificate. Now lets ask ourselves, what is money laundering? It is violating the limitations set on the transfer of fiat script currency that belongs to its property owners, i.e. the central banks. Most world governments today are not organic governments for the people by the people, instead they are corporations run by oligarchs. 28 USC § 3002 (15)(A) defines the United States as a Federal corporation. The Republic of South Africa is not a true republic. The Commonwealth of Australia is not a commonwealth, these are merely the names of corporations to trick you. Most every country in the world today operates as a corporation and trades their stock as a security as it is listed on the U.S. Securities and Exchange Commission (SEC) site. Now enter the world of digital currencies and crypto currencies that allows you and me to store our assets in a domain that is not only anonymous, but cannot be regulated by Governments aka Banks because only those who own it can regulate it. This new paradigm of crypto currency effectively spells the end of this draconian rule that banks had over our lives because it is decentralized. The banks are losing control over us, our capital and our deposits and they know it. All they can do is bark. As the saying goes "let the dogs bark, but the caravan will move on"... "combating the laundering of illegally obtained capital in cryptocurrency markets" is an oxymoron. It is impossible to launder cryptocurrency because it is not fiat money owned by the banks. Let them bark and bark and bark. They cannot regulate this domain. This means the end of their money monopoly and limiting every aspect of our lives in the world of commerce.