in the past weeks Russia President Vladimir Putin met with the central bank and government officials cryptocurrencies had called for a compromise.
After Putin’s call for reconciliation, the parties started to talk. In this context Central Bank of Russia President Elvira Nabiullina cryptocurrency He met with Finance Minister Anton Siluanov and Deputy Prime Minister Dmitry Grigroenko to discuss the arrangement.
According to Bloomberg’s report, there was no consensus from this meeting. Russia’s central bank and government officials failed to reach an agreement on how to regulate cryptocurrencies at their meeting today.
There has been no statement yet from the Central Bank or the Ministry of Finance on the subject.
The Central Bank of Russia is Insistent on the Ban!
There is a difference of opinion between the Central Bank and government officials on the regulation of cryptocurrencies in Russia.
The central bank proposes a general ban on all crypto activities in Russia, citing allegations that cryptocurrencies are a threat to the country’s financial system and are used for illegal activities, while government officials support regulation within specific limitations rather than a general crypto ban.
Government officials say that due to the uncertainty in the country, investors are directed to other countries, and in this context, cryptocurrencies should be regulated in order to attract more foreign investors.
In this context, relevant government officials have published a draft study on how the regulations will be for the crypto industry.
Because President Putin also says he supports the regulation of cryptocurrencies rather than a general ban.
Alexey Moiseev, Deputy Finance Minister on cryptocurrency regulation “We need to establish clear and transparent rules so that citizens and businesses can use financial instruments in the crypto market. Clear regulations on cryptocurrencies preclude the possibility of a parallel financial system emerging.” said.