A group of Russian lobbyists, led by the law firm Digital Rights Center, have launched a new campaign against regulatory measures that they believe prevent the adoption of cryptocurrency in the country.

The group has set up a platform designed to discourage the adoption of laws that prevent the circulation of cryptocurrencies and digital assets in Russia, the Digital Rights Center said on Tuesday. Other founders of the initiative include the Committee on Blockchain Technologies and the Digital Economy, the Russian General Investment Organization in Russia and the non-profit organization RoskomSvoboda.

A campaign entitled “Public Initiative of the Russian Crypto Society” claims that the proposed rules for cryptocurrencies in Russia “do not meet the needs of the market.”

“New laws complicate the use of cryptocurrencies in Russia and slow down the development of the distributed financial market,” a lobbyist group wrote. Activists stressed that laws and bills in force in Russia prohibit the use of cryptocurrency as a means of payment and offer severe fines and imprisonment for up to three years for refusing to report ownership of the cryptocurrency.

The group also submitted a public petition to the main Russian regulatory authorities, including the Ministry of Finance, the Ministry of Economy, the Bank of Russia, the Federal Tax Service and the Committee of the State Duma of the Russian Federation of Financial Markets.

The petition, available from the Change.org Change Service, calls on the authorities to reconsider their approach to regulating cryptocurrencies in the country. They also hope to prevent the adoption of four separate crypto-regulatory initiatives, including a new crypto-tax scheme in Russia. The State Duma approved the bill at first reading in February.

The new petition came amid reports that the federal tax service in Russia intends to require citizens to inform the authorities about their cryptocurrencies. The regulator plans to enforce this requirement under the federal cryptocurrency tax law, according to an alleged letter to Data Economy, an independent local non-profit organization.

Source: CoinTelegraph

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