The Bank of Russia published a report on January 20 calling for a complete ban on cryptocurrency trading and mining.
The Central Bank of Russia Proposes a Complete Ban of Crypto in the Country
Related article: The Central Bank of Russia Proposes a Complete Ban of Crypto in the Country
Following this published report, Ivan Chesnokov, Head of the Fiscal Policy Department of the Russian Ministry of Finance, made a statement that a regulation should be introduced instead of banning cryptocurrencies in Russia. Chesnokov on the subject;
“We need to regulate instead of prohibition, it will be enough to bring regulation to protect our citizens.”
said. In addition to these, The Ministry of Finance has prepared a series of proposals. and that he expects the government to consider it, Chesnokov said. Banning crypto transactions and mining means undermining the technological development of the industry. added to the future.
Also Russian online news site Lenta.Ru, January 25 The government and the majority of lawmakers reported on the central bank’s crypto ban. not support, towards cryptocurrencies and taxation rather than a possible ban that they want to make laws gave place.
In the said report; The Central Bank of Russia describes the cryptocurrency ecosystem as a threat to the country’s economic stability. Alongside the ban on trading and mining of cryptocurrencies, the report recommended introducing a penalty for violating the already existing ban on the use of crypto for payments in Russia.