Bitcoin Letter to Russian President Putin!

Economic sanctions after Russia’s invasion of Ukraine Bitcoin (BTC) increased interest in cryptocurrencies such as

In Russia cryptocurrency While the arrangements are expected to be made, there is still no consensus on this issue.

Groups advocating regulation of cryptocurrencies Russian President Vladimir Putine called.

A major cryptocurrency and blockchain advocacy group in Russia. Russian Crypto Industry and Blockchain Association (RACIB)wrote a letter to Putin.

In the letter, it was stated that although Russia’s first cryptocurrency law, the “Law on Digital Financial Assets”, was enacted in 2021, the adoption of crypto was very slow.

In November 2022, it was argued that the law amendment, which provides for the launch of a national cryptocurrency exchange by lawmakers, would also significantly complicate the implementation of digital financial technologies in Russia.

“We would like to draw your attention to the fact that the current state policy in the field of regulation of digital assets poses serious risks for the Russian economy to lag behind not only hostile, but also friendly countries.

These are new financial technologies and we cannot resist them.

Russian businesses are not allowed to use the full potential of new financial instruments. (tools such as cross-border payment systems, Russian crypto exchanges and other elements of the digital economy)

In this context, such an extremely conservative and prohibitive approach will mean not only the loss of the pace of development of the digital economy, but also the inability to become one of the leaders of the 6th economic order for our country.”

In the face of the risks they saw in the letter they wrote to Putin, the association asked Putin to hold a working meeting with the participation of not only the Central Bank of Russia, but also other relevant departments and representatives of the crypto community. crypto- asked him to instruct them to be understood in their regulations.