Russian presidential candidate and Business ombudsman Boris Titov thinks of the Ministry of Finance’s recent draft law on regulating virtual financial technologies as being excessively strict.
Titov spoke through his press service about how the financial watchdog’s proposal was harsher than other countries’ approach. “The Finance Ministry’s proposals present a much tougher regulation than in Japan, Switzerland, Belarus, (and) Armenia. That is, in all countries that have adopted some form of legislation. It would be better not to adopt anything than to adopt such legislation,” said the ombudsman.
He believes that the
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