Russian Government Will not Ban Bitcoin

Russian Government Will not Ban Bitcoin

An official from the bank of Russia lately stated that the central bank isn’t always going to restrict the usage of cryptocurrencies such as bitcoin in Russia. Talking at a discussion board, deputy chairperson Olga Skorobogatov stated that the central bank of Russian Federation does not want to ban something before it understands it.

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Olga Skorobogatov said:

“Considering bitcoin is a private currency, it seems that not everything is as simple and excellent there as they claim in books and magazines. The regulator’s function, , is that we do not need to prohibit something right now, earlier than we recognize what to make of it after which construct a regulatory framework.”

The feedback come after the Russian’s Ministry of Finance suspended its work at the bitcoin invoice, which aimed to penalize the issuance and circulation of cryptocurrencies. Nowadays, deputy finance minister Alexey Moiseev stated that the draft regulation is postponed until government get a clearer image of this monetary innovation.

BTC

Alexey Moiseev said:

“The central bank and the Federal monetary tracking provider are gazing if cryptocurrencies pose any threats to the Russian financial system. So, these companies expect that there are no essential threats there. We decided to watch cautiously how it is growing. We decided that the central bank and the Federal monetary monitoring service ought to monitor cryptocurrency for Russia’s economic protection. These companies believe that there is not anything vital in it, which means that they may also appear in the future. However now they do not exist.”

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