Putin calls on Russia’s government and central bank to reach common ground on cryptocurrency regulation.
This week, the Ministry of Finance joined the front against the CBR. The head of its Financial Policy Department, Ivan Chebeskov, insisted that the crypto market needs to be regulated, not banned. In his view, the main task is to provide protection for the interests of investors and citizens who use cryptocurrencies, which requires regulation, not prohibition.
According to a report by the business news portal RBC on Thursday, the finance ministry has prepared its own proposal for the regulation of cryptocurrencies without their prohibition. The department suggests all crypto-related transactions should be carried out through Russian banks. It also calls for introducing
for Russians owning crypto wallets and dividing investors into two groups — qualified and non-qualified.I would ask both the Government of Russia and the Central Bank to come to some kind of unanimous opinion during the discussion, and I would ask you to hold this discussion in the near future, and then report on the results that will be achieved.
The Russian president also highlighted his country’s “competitive advantages” as far as crypto mining is concerned. Putin pointed to the surplus of electricity in energy-rich Russia as well as the availability of a qualified workforce. Russia’s significance on the bitcoin mining map has
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