Russian crypto bill pushed back

Russia’s cryptocurrency legislation, the draft bill “On Digital Financial Assets,” has been sent back to the first reading stage for significant changes. The head of the council and chairman of the State Duma committee on state building Pavel Krasheninnikov said that the document has no relation to cryptocurrencies or tokens, and lawyers have noted that its wording comes into conflict with the norms of Russian legislation for corporations. The draft legislation had first been introduced in January at President Vladimir Putin’s behest, with the bill approved by the State Duma in the first of three readings in May.

South Korea promotes crypto usage

South Korea to allow the promotion and development of cryptocurrency trading in the country. This legislator, Kim Sun-dong, is further giving a green light to cryptocurrency trading. It is also worth of note, he is a member of the Political Committee of South Korean National Assembly. There is substance behind his intentions. He executed the bill named Digital Asset Trading Promotion Act. This details all the guidelines that would need to be used in the market, ultimately, assisting with the development and promotion of crypto and blockchain technologies. The bill will be introduced to promote cryptocurrency trading. It would facilitate the promotion of cryptocurrency exchange developments.