OREANDA-NEWS  The head of the Federal service Pavel Livadny said that all countries belonging to the international group for the development of measures to combat money laundering (FATF), will have to introduce control over the circulation of digital money.

The international group for the development of measures to combat money laundering (FATF) recommended to introduce control over the turnover of cryptocurrencies, citing Deputy head of Rosfinmonitoring Pavel Livadny.

The official explained that all countries included in the FATF will have to change the legislation and start monitoring crypto assets, ICO platforms, wallets for digital money and so on.

Livadny underlined that the FATF now urges to follow the exchange of cryptocurrency for Fiat money and transferring them from one purse to another. To date, the threshold from which the control begins is not set. The same value of the traditional assets of 600 thousand rubles.

Recall, on October 26, 2018, the President of the Russian Association of crypto-industry and blockchain Yuri Pripachkin in the framework of the forum "Blockchain in the digital economy" spoke about the upcoming bill concerning cryptocurrencies.

"... it makes no sense to adopt legislation in the form which it is now, it is necessary to adopt a comprehensive, detailed legislation that will allow the country's economy to move forward," said Pripachkin.

He added that the adoption of the bill may lead to the fact that entrepreneurs will start registering their business in other jurisdictions. According to the President of RAKIB, what is happening with the development of the law — circumcision of the law to the level of the new token, which rotate within the company, this "end cryptonomicon".

"In my opinion, the law  will be adopted in the version that is now being considered. Will be accepted simply to put a tick opposite to an assignment of the President. What is really the instruction will not be executed, anyone interested will not. This will give crowdinvesting in truncated form. Is that good? Kind of, I guess, good. Does the law in this form solve the problem of building an effective digital economy and crypto-industry? No, it does not solve", — the expert is sure.