Bitcoin and cryptocurrencies: the Russian Parliament would be in favor of a national crypto platform


Muscovite-style crypto adoption – Russia’s interest in cryptocurrencies is not new. Quite the contrary. The Bank of Russia also confirmed its blockchain desires this month, while cursing against crypto-assets. However, the Duma, the lower house of the Federal Assembly of Russia, has regularly seen laws passed in favor of cryptocurrencies. This time again, the points of view will indeed be opposed. At stake: the creation of a national crypto platform which is not unanimous.

Cryptocurrencies: an economic potential according to Russia

Our colleagues from Cryptopotato thus report the words of a local media announcing that the Duma would work on a new bill aimed at “ the creation of a national cryptographic exchange ».

While we described some divisions within Russian institutions regarding the creation of a legal framework for cryptocurrencies in Russia, the Russian Parliament, underlines, theevidence and the economic potential of digital assets. Thus, Sergey Altuhov, a member of the State Duma Economic Policy Committee, explains:

“It makes no sense to deny the existence of cryptocurrencies, the problem is that they circulate in a wide stream outside of state regulation. This is billions of rubles in lost tax revenue for the federal budget. »

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A national crypto platform: a divisive subject

However, not all decision-makers view the adoption of cryptocurrencies in a positive light. The reluctance in particular from the Bank of Russia are known and the national cryptocurrency platform needs the approval of the latter to see the light of day.

In addition, the establishment of this national exchange would require changes to the current bill on the adoption of cryptocurrencies in agreement with the Ministry of Finance. Rather half fig half grape, the latter lines up behind the opinion of the Economic Policy Committee of the State Duma. Cryptocurrencies that can bring butter to the spinach. Furthermore, the state had confirmed working on a digital ruble in order to circumvent the use of the dollar.

In the political and macroeconomic context, let’s keep our heads on our shoulders. Obviously, cryptocurrencies would be for Russia and its government a way of circumvent certain international sanctions against them. In this same circumvention dynamic, the Russia would also approach China in order to work on a digital currency indexed to gold in order to be able to trade freely, despite the restrictions of NATO and the EU.

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