Russia Has No intention to Ban Crypto Like China

The Deputy Finance Minister of Russia confirmed that they are not gonna ban Cryptocurrency  and also they believe that Blockchain has better potential in the future of Russia.

In the past many politicians of Russia trolled crypto and crypto related businesses and their statements were showing indication that the Russian government may ban crypto permanently. But a latest statement by a Russian official gives a better vibe for the crypto community of Russia. 

According to a local media report, The deputy finance minister of Russia, Alexey Moiseev, stated that they have no plans to ban crypto totally like China.  further added 

“At the same time, citizens can buy (cryptocurrencies) and use wallets outside the Russian Federation. So it will remain so, I think. There are no plans to change anything.

So people have freedom to buy crypto assets and use crypto wallets but they are banned to use inside Russia. Because it will be “subject to bans for the entire foreseeable future due to the country’s financial sovereignty”. Minister also claimed that they will not change their stances on crypto in future.

According to Minister, Russian government can’t consider crypto use in the payment purpose because there are many things, with such kind of activities with the crypto and that may end up into huge loss. 

Earlier this, many politicians always claimed that there should be no connection of crypto related elements in Russia but here the Deputy minister appreciated the potential of Blockchain technology and claimed that there are huge chances that Blockchain will exist in the future infrastructure of Russia. 

“The blockchain will obviously occupy its own niche and will be used where equal rights are needed.”

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