Russian officials say the state plans to develop its own Bitcoin and the Ether Square

nnnRussia’s Minister of Communications Nikolay Nikiforov said this week that Russia will develop its own Bitcoin and ethercombars because the encryption technology for these two blocks is different from that of Russia. From the current Russian block chain news we have learned, the country’s position on the chain and the digital currency is not very clear, and there is no particularly significant progress. Therefore, the chain chain in Russia, how the prospects remain to be seen.n
nnTranslated by: Inan
nRussia, a senior politician, said Russia should create its own Bitcoin and ethercombars because they were developed through “foreign encryption technology.”n
nRussian media minister Nikolay Nikiforov told reporters on Monday that Russia, which had just developed as a partner with the APF Foundation last week, was “absolutely capable” to develop its own version of the ethertop.n
nThe Russian satellite network quoted him in the report: “Bitcoin and ethercom are foreign currency based on foreign encryption technology, and Russia has its own encryption genre.”n
nn”I think we have the absolute ability to create a block-based chain of encryption tools, and to develop specific provisions to determine its operational framework.”n
nnNikiforov’s remarks made the Russian government’s position in the digital currency more confusing, had expressed support before, also threatened to ban.n
nAlexey Moiseev, vice-minister of finance, said in an interview last week that in Russia, only “special investors” can get digital money through Moscow securities, “ordinary people” is not. He also said it was difficult to confirm that the digital currency was not a “pyramid scam”.n
nMoreover, a working group also recommended that individuals be prohibited from digging at home, as this has a security risk mentioned by the speaker.n
nAt the same time, the Russian government is also supporting a company competing with China, the company plans to raise 100 million US dollars.n
nNikiforov added that the proposed rules for the regulation of digital money are ripe and will be “submitted to the government”.n

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