Central Bank’s First Deputy Governor, Ksenia Yudaeva, said that, in principle, the financial authority does not object in order to the use of cryptocurrency in terms of international transactions.
Further, Yudaeva explained that the institution still actively believes in the use of cryptocurrencies within the country, particularly within the financial infrastructure of Russia.
The President of Russia, citing the opposing position of the Russia Central Bank, stated that although the country has certain advantages, especially in terms of so-called mining.
At the time, Andrey Lugovoy said that while talking about digital financial assets along with cryptocurrencies and the whole crypto market, there is a need to understand that there is neither any need to try altering certain bills through which they are trying to put regulations over a new entity that the entire world is facing now, and Russia must determine their position in this.
The Ministry of Finance followed the proposal of the Russian government along with its bill that is intended to provide the bitcoin ecosystem its actual value and empower those businesses operating within the space by implementing the regulatory practices.