While there is strong disagreement about Bitcoin in the Russian political system, the country’s deputy finance minister says they are not banning crypto.
Russia, do not ban crypto:
In a recently released statement, Russia’s deputy finance minister Alexey Moiseev said that while the country’s citizens could trade crypto, although the use of bitcoin as legal tender (one could not use crypto wallets on Russian territory) remains banned, it has no plans , to change something.
Moiseev added if the local investors break government guidelines and use BTC within the country’s borders.subject to a ban for the foreseeable future “, since the exercise includes the financial sovereignty of Russia. He claimed that the use of BTC as a means of payment was still banned or the state would lose control of the money supply.
Crypto in Russia:
A significant number of Russian politicians and people in public office appear to be suspicious of Bitcoin. The head of the country’s central bank, Elvira Nabiullina, warned in a statement that investing in cryptocurrencies is the most dangerous investment strategy. In another statement, Central Bank Deputy Governor Sergey Shvetsov stated that the risk of entering the crypto business equals the risk of entering a minefield.
On the contrary, there are people who even support Bitcoin as a means of payment. Billionaire Oleg Deripaska, founder of the county’s largest charity, Volnoe Delo, appeared critical of the central bank’s stance on crypto, referring to EL Salvador’s crypto policies, he said:
“Even poor El Salvador recognized the need for digital currencies and took an easy path to accept Bitcoin as a means of payment.”
Here it is important to note that Russia is no ordinary country when it comes to crypto, but rather that it has large stakes.
According to the data, 6.84% of all BTCs are mined in the country, making Russia the fourth largest bitcoin miner in the world.