Uncertainty about crypto regulation can engender internal disagreement even within seemingly monolithic governments.
One of the most fascinating implications of the collision between traditional political institutions and the crypto space is how it can reveal the glaring lack of cohesion within power systems that otherwise look monolithic. Digital assets reside in a parallel policy dimension where neither a centralized consensus nor a clear rulebook exists, leading to a surprising variety of voices and opinions emerging in the absence of a politically coordinated course.
Below is the concise version of the latest “Law Decoded” newsletter. For the full breakdown of policy developments over the last week, register for the full newsletter below.Following the central bank’s blanket ban proposal, it emergedthat the Ministry of Finance had been working on itsall along, whose tenets are fundamentally opposed to the Central Bank of Russia’s prohibitive drive.
Apparently, the narrative battle over how to deal with the power of the digital asset space is underway within the halls of the Russian government, and its ultimate outcome is anyone’s guess.First tested with the inclusion of the problematic digital asset broker definition into the infrastructure bill last year, the tactic of stealthily appending crypto-hostile provisions to gigantic must-pass bills could be crypto opponents’ new weapon of choice.
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