In Russia cryptocurrencies While working on the regulation Central Bank of Russia between government officials cryptocurrency Differences of opinion continue.
According to Bloomberg’s report Russian Finance MinisterIn a letter to Prime Minister Mikhail Mishustin, Anton Siluanov said that cryptocurrencies should be regulated legally rather than banned.
We Must Legalize Cryptocurrencies!
Stating that the legal regulation of cryptocurrencies will contribute positively to the country’s economy, Russia In his letter, the Finance Minister also proposed to allow banks to offer services based on cryptocurrencies.
Siluanov stated that national licenses may be granted depending on the characteristics of the banks’ business in this regard, and that banks that do not have a license should not be allowed to offer crypto money services.
He also noted that cryptocurrencies should be treated like precious metals such as gold or silver.
Finance Minister Siluanov pointed out that if cryptocurrencies were given legal status, the Russian government could more effectively and easily oversee the local crypto industry.
Alexey Moiseev, Deputy Minister of Finance, made the following statement to reporters on this issue:
“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.”
Noting that businesses are turning to other countries due to legal uncertainty in Russia, the Minister of Finance said that removing the barriers to cryptocurrency trade will enable more foreign capital to enter the country.
In this context, Siluanov also stated that Russian investors already have crypto assets worth a total of $26 billion.
Elvira Nabiullina, the head of the Russian Central Bank, said in a statement last week that they still see cryptocurrencies as a financial threat and that she will continue to talk to the Ministry of Finance on this issue.