According to Ivan Chebeskov, director of the financial policy department at the Ministry of Finance, Russia is ready to allow any company to work with cryptocurrencies in international deals.
Information from the Russian portal TASS also points to the differences between the Ministry of Finance and the country’s Central Bank. According to Chebeskov, the ministry “advocates the creation of a complete infrastructure for the circulation of digital currencies in Russia”. The BC, on the other hand, fears losing influence over its citizens with the popularization of a second currency.
However, even before the director’s speech, Russia had already taken another step towards cryptocurrencies. Last week, Russia began preparations to provide electricity to cryptocurrency miners in Kazakhstan.
Russia getting closer to Bitcoin
Suffering from sanctions after starting a war against Ukraine, Russia has to re-examine its plans regarding cryptocurrencies. Though the Central Bank of the country is againstyou are letting go of your pride.
According to Ivan Chebeskov of the Russian Ministry of Finance, both Bitcoin like any other cryptocurrency they will be authorized for international transactions.
“We will allow international cryptocurrency deals for any sector without restrictions”
He then points out that this is a measure that serves both to boost the country’s economy and also to have greater control of illicit activities with them.
“We think we need a local crypto infrastructure. First of all, to protect the interests of citizens. Because now those who trade their digital currencies on cryptocurrency exchanges are limited. Secondly, to control when the digital currency is used legally and when it is not”, stated Ivan Chebeskov.
Russia Ready to Provide Power to Kazakhstan’s Cryptocurrency Miners
Last week, Russia also began preparations to provide electricity to miners in neighboring Kazakhstan. According to data from January, Taiwan is the third largest producer of BTC in the world. However, insufficiencies in its electrical network caused the closure of hundreds of mining companies a few months ago.
“The changes mean that Inter RAO, Russia’s only electricity import and export operator, will be able to sell electricity to Kazakhstan under contracts concluded with Kazakh mining companies on commercial terms,” the Russian portal RBC noted.
Therefore, Russia seems to be trying to find a way out in Bitcoin Y other cryptocurrencies, accelerating this process due to the aftermath of the war. In any case, such full acceptance should still take a little longer.
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