Valentina Matvienko, the chairman of the Upper House in the Russian Parliament, has urged her pairs to work on a cryptocurrency bill that could regulate the industry in the country, which currently stays in a gray zone of uncertainty. The story was originally reported by TASS, a local media outlet.

Matvienko, which heads the Federal Council since 2011, is one of the most powerful voices lobbying for crypto in Russia. She has talked to members from many departments, committees and ministries in Russia to understand why the draft bill for crypto regulation has been delayed so much.

According to her, for more than a whole year, the bill has stayed in the lower house of the Russian parliament and nobody seems to be eager to push these laws forward or even to reject them and propose another framework instead.

She has urged the other politicians in the country to understand what is making the law take so long and has guessed that, if the law is of poor quality, a movement should be made to come up with a better legislation in order to speed up this important process, as the industry is vital for the Russian economy in her opinion.

According to Matvienko, Russia has all the most important tools to actually push forward innovation that can cause a “digital breakthrough” in the country, but all the delays for coming up with a legal framework are giving the headstart for other countries instead and forcing local businesses to look for other jurisdictions that do not bring them so much uncertainty as the Russian government is now.

In a movement that goes in the same direction to what Matvienko wants, Vyacheslav Volodin, the chairman of the Russian Duma, the lower house of the parliament, has affirmed that the country should prioritize digital economy laws.

According to him, there is a great need to actually create these laws soon and he urged the Russian lawmakers to create an environment that is favorable to the changes that need to be done. Some days ago, Anatoly Aksakov, the head of Committee on Financial Markets, has also set a deadline for this discussion, which should be made up until the end of February 2019.

The first reading of the bill was in May 2018, but the law was not pushed forward and it remained mostly forgotten until now.

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