Forbidden to forbid – Russia will therefore probably not follow in the footsteps of China, which decided to ban Bitcoin and cryptocurrencies from its territory. The country’s institutions do not speak with one voice, good news for bitcoin (BTC), a defeat for the Russian central bank.
Prohibition of bitcoin and cryptocurrencies: no question, under penalty of technological delay!
Ivan Chebeskov, director of financial policy at the Ministry of Finance in Russia, has decided to put out the fire lit by the Bank of Russia which advocated a complete ban on cryptocurrency mining and trading.
During the January 25, 2022 crypto conference of the Russian central bank, Ivan Chebeskov indeed indicated that he was rather in favor of regulating cryptocurrencies rather than banning them.
“We need to give these technologies the opportunity to grow. In this regard, the Ministry of Finance is actively involved in the development of legislative initiatives in terms of regulating this market”
In particular, he mentioned the inconvenience caused by an outright ban on cryptocurrency trading and mining. Such restrictions, he said, would put Russia lagging behind the tech industry at the World level.
>> Ready to get into the crypto-game? Swissborg is waiting for you and offers you up to 100 euros (affiliate link) <<
Economic Growth Above All: These Russian Politicians In The Bitcoin Camp
Ivan Chebeskov is known for his position in favor of cryptocurrencies which he had already defended in the past. His career also includes a stint in Texas, a pro-bitcoin state where he studied.
Ivan Chebeskov therefore reduces the pressure exerted by the central bank on the private sector. Telegram CEO Pavel Durov had expressed his opposition to an outright strict restriction of cryptocurrencies. He felt that the ban brandished by the Russian central bank ” would destroy a number of sectors of the economy high technology”.
Ivan Chebeskov is not the only politician in the country to have called the central bank to reason. Vladimir Gutenev, chairman of the State Duma’s Industry and Trade Committee, had also defended cryptocurrency mining and physical gold-backed stablecoins for obviously economic interests.
Russia continues to have a complicated relationship with cryptocurrencies. The central bank seems for the moment well isolated in its desire to chase cryptocurrencies out of the country.
While big crypto maneuvers are running across the planet, set up your own investment strategy! To help you, an exceptional offer awaits you: up to €100 in cryptocurrencies offered when you register on the Swissborg platform (affiliate link, for a minimum deposit of €50)