Finance Russia Not Ban Cryptocurrency

Russia’s Deputy Finance Minister Alexei Moiseev said the reporter Tuesday, on which the government has no plans to ban trading in cryptocurrencies based on the Chinese model.  cryptocurrency

Alexei Moiseev

According to Moiseev, citizens can buy digital assets and use crypto wallets on forex. However, he also stressed that the ban on cryptocurrency payments will continue to apply:

“At the moment I can say that payments in cryptocurrencies are still prohibited. But citizens can buy crypto and use wallets outside of Russia. I believe things will stay the same for now. So far there are no plans to change anything. “

In July 2020, Russian lawmakers passed landmark law setting the legal status of Bitcoin and other digital currencies. The bill also prohibits the use of digital assets for payments.

Last month, Kremlin spokesman Dmitry Peskov said Russia was unwilling to recognize Bitcoin as a legal currency.

Earlier this week, Deputy Minister Moiseev said the introduction of cryptocurrency payments would threaten Russia’s financial sovereignty by making it difficult to control the country’s money supply.

The Chinese central bank had previously made it clear at the end of September that it was illegal for foreign exchanges to offer services to the Chinese. Chinese citizens who work for these exchanges can be prosecuted. This prompted Okex, Binance, Huobi, KuCoin and more than 20 Chinese crypto companies to ban Chinese users and stop all services here.

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