The government of Russia and the Central Bank of the Russian Federation, according to Vladimir Putin, should soon come to a consensus on cryptocurrencies
The Central Bank of the Russian Federation and the government should come to a consensus on the regulation of cryptocurrencies. This position was expressed by Russian President Vladimir Putin at a meeting with members of the government.
According to him, the mega-regulator and legislators should already “soon” hold a discussion on the regulation of cryptocurrencies, and then report on the results that will be achieved during this discussion. At the same time, Putin said that the Central Bank “does not stand in our way of technical progress.”
“As for cryptocurrencies, the Central Bank has its own position, it is connected with the fact that, according to the experts of the Central Bank, the expansion of this type of activity carries certain risks, and above all for the citizens of the country, given the high volatility and some other components of this topic” , – he said.
At the same time, Putin acknowledged that Russia has “certain competitive advantages” in cryptocurrency mining.
Recall that earlier the Central Bank of the Russian Federation proposed to introduce a ban not only on the issue and circulation of cryptocurrency, but also on mining. However, the storage of cryptocurrencies is not prohibited, however, according to the director of the Financial Stability Department of the Bank of Russia Elizaveta Danilova, it will be possible to hold such assets only on foreign sites.
The Central Bank proposed to send comments on proposals until March 1 to the following addresses:
- [email protected];
- [email protected];
- [email protected]
According to the mega-regulator, so far, cryptocurrencies pose little threat to financial stability, however, if citizens become more involved in the crypto-currency market, the risks will “significantly increase.” The Central Bank also believes that the purchase of cryptocurrencies by citizens poses a direct threat to their well-being, since “there are no guarantees of return” of investments.
The State Duma takes a radically opposite position. They believe that a lack of understanding of the ban on cryptocurrencies on a practical level can make Russia a laughing stock for the whole world. As Andrey Lugovoy, First Deputy Chairman of the Committee on Security and Anti-Corruption, stated, the Central Bank of the Russian Federation should clearly explain exactly how the mega-regulator is going to ban the circulation of cryptocurrencies in the country.
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