Russia will announce cryptocurrencies as a means of payment ‘sooner or later’

Russia will announce cryptocurrencies as a means of payment ‘sooner or later‘: stated Denis Manturov Minister of Industry and Trade in Russia on Wednesday, May 18, that Russia “Sooner or later” it will legalize cryptocurrencies as a means of payments in the country, indicating that the government and the Russian Central Bank may settle their dispute in order to implement the government’s plan on cryptocurrency.

Shortly before the invasion Russia To send its Ukrainian neighbor, the Ministry of Finance has put forward legislative proposals that go against the Central Bank’s call for a blanket ban.

Does the Central Bank of Russia accept cryptocurrencies?

I found Russia Recently, it issued its own “digital ruble” currency, but the government did not support the use of private cryptocurrencies, until years after arguing that cryptocurrencies could be used for money laundering or to finance terrorism.

However, the Central Bank Governor stated Elvira Nabiulina The bank refuses to welcome investments in cryptocurrencies, which represent about $5 billion of transactions annually by Russians, and the central bank has also submitted a proposal to ban cryptocurrency trading and mining.

Russia will announce cryptocurrencies as a means of payment

Noting the risks to financial stability from the growing number of cryptocurrency transactions, other central bank officials said last year that they saw no scope for cryptocurrency to be used in the Russian financial market.

later stated Manturov The regulations for the use of cryptocurrencies will be formulated by the central bank in the first place, and then by the government.

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