Russia on track to legalize cryptocurrency payments

Minister Denis Manturov recently spoke about the inclusion of cryptocurrency trading in the country, calling it "inevitable"

The Minister of Industry and Trade of the Russian Federation, Denis Manturov, recently indicated that the country “sooner or later” will legalize payments with cryptocurrencies.

So far this year, the Russian government has been analyzing different possibilities for the adoption of digital assets, however, a specific policy related to this type of payment has not yet been created.

Manturov participated in the New Horizon educational forum this week, where he hinted that work is being done on the legalization of crypto payments, opening the possibilities towards this adoption.

“I think so. The question is when it will happen, how it will happen and how it will be regulated. Now, both the Central Bank and the Government are actively participating in this. But everyone is inclined to understand that it is a trend of the times, and sooner or later, in one format or another, it will be carried out”, said the minister.

Despite this rapprochement, the policy of the Central Bank of Russia (CBR) seems to be in the opposite direction, given that the institution has sought a way to apply prohibitions on the use of cryptocurrencies in the region.

In January, the BCR had proposed a blanket ban on local cryptocurrency trading and mining due to potential “financial stability risks” associated with the sector.

K. Tovar

Source: Cripto247

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