of Russia Bitcoin Following initial news that it was aiming to completely ban cryptocurrencies, including cryptocurrencies, relevant authorities have clarified the country’s stance on the issue.
In particular, Anton Gorelkin, a deputy and deputy chairman of the State Duma Committee on Information Policy, Information Technologies and Communications, objected, stating that the information was misrepresented in the media.
In a Telegram message published on April 27, the lawmaker pointed out that the misleading news stemmed from the country’s draft law, which aims to introduce mechanisms to detect criminal cryptocurrency transactions.
Gorelkin, the bill cryptocurrency He emphasized that although it aims to regulate their transactions, it does not intend to completely ban their circulation. Gorelkin explained that the proposed legislation targets the organization of crypto exchanges and exchanges outside the realm of an experimental legal regime.
“Even some reputable publications say ‘MPs’ RussiaIt is surprising that he wrote that he wants to ban the circulation of cryptocurrencies in . The circulation of cryptocurrencies will not be banned. Organization of turnover is prohibited. That is, the creation of exchanges and exchanges outside the scope of the experimental legal regime.”
Gorelkin also emphasized the geopolitical context, suggesting that the emergence of a legal Russian crypto infrastructure faces challenges due to international sanctions.
“This is a situation that a number of actors insist on today, noting that the issue of the emergence of a legal Russian crypto infrastructure is based on geopolitical realities. Giving a business the green light in this direction means pushing it under Western sanctions. “This is a paradox, but the ban on organizing the circulation of digital currencies is rather a protectionist measure here,” he said.
Notably, previous reports had claimed that Russia was aiming to ban cryptocurrencies to bolster the dominance of its local currency, the ruble. Indeed, this development has created a frenzy in the crypto market, with several players pointing out that a ban could strengthen the current bearish trend.
