Russia plans to legalize Bitcoin and other digital currencies


nnnThe Russian government’s position on the digital currency has been wavering, but after President Vladimir Putin met with Vitalik Buterin, the government seems to increasingly support the digital currency. At present, a Russian official said the government hopes to put the digital currency in the legal framework in the future, certainly its legal status, the relevant work has been launched.n
nnTranslated by: Inan
nAccording to RT reports, Russia has opened a process of legalizing digital money, and is developing a legal framework to manage transactions in digital currencies such as Bitcoin.n
nRussian Minister of Finance Anton Siluanov revealed this information at a recent financial forum in Moscow. He warrants to Russia’s Bitcoin and other digital currency users that the government will not bang the digital currency or punish the digital currency users.n
nThe position of the Russian government in this respect is the opposite of last year, and President Putin has also affirmed the digital currency before.n
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nThe president gave helpn
nPutin met with Vitalik Buterin, founder of the tower, and Buterin highlighted the benefits of Russia’s use of the bottom chain of technology. Later, a loan union studied the possibility of using the technology to reduce costs. At the same time, a presidential assistant also announced plans to launch the first tokens (ICO).n
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nMinistry of Finance waveringn
nThe Russian Ministry of Finance has long ago disagreed with the digital currency and is considering prohibiting its use because it is considered unsafe. But now the digital currency has been supported by President Putin, and the government is aware that digital money is part of the new economy. Siluanov said that prohibiting the use of digital money does not make any sense. He pointed out that the next step was to develop a bill before the end of the year to regulate the digital currency.n
nSiluanov has not yet disclosed more details, only that the Russian government’s goal is to make the purchase of government bonds and other securities of the law also applies to the purchase of digital currency.n
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nThe central bank governor of Russia is hesitantn
nAs with other technology trends, digital money has not yet been recognized by all. Russia still has a skeptical person. For example, the Russian central bank governor Elvira Nabiullina will be the global digital currency boom known as sweeping the country’s “gold rush”, and its use as a substitute for currency concerns.n
nAccording to other news, China’s growing demand for digital money is not acceptable. In fact, its financial regulators have planned to close the main bit currency exchange, resulting in bit currency prices plummeted.n
nPeople are also predicted that the digital currency will be suppressed, the recent People’s Bank of China banned ICO fund-raising decision also caused great repercussions.n

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