- According to representatives of the ministry, this step will destroy the prospects of one of the fastest growing and technological sectors of the economy.
- According to some reports, law enforcement agencies insisted on the ban on the part of the Central Bank, concerned about the scale of the uncontrolled “crypto market” in Russia.
- The head of the Ministry of Digital Development Maksud Shadayev is afraid of a “brain drain” due to the ban on trade in “crypto”
The Ministry of Digital Development of the Russian Federation opposed the initiative of the Central Bank to ban trading and mining of cryptocurrency in Russia.The Ministry of Digital Development of the Russian Federation opposed the initiative of the Central Bank to ban trading and mining of cryptocurrencies in Russia. According to representatives of the ministry, this step will destroy the prospects of one of the fastest growing and technological sectors of the economy, which will lead to the emigration of specialists and the backlog of Russia.
The Ministry of Digital Development reacted with its statement to the initiative of the Central Bank of the Russian Federation to ban the circulation of cryptocurrency in the country. The Office of Elvira Nabiullina, we recall, indicates that free mining and trading in “crypto” has many risks. From uncontrolled financing of terrorism and drug trafficking to banal fraudulent “divorces” of ordinary citizens who do not have sufficient financial literacy.
Examples are “nakroshops” on the darknet that sell drugs through “bookmarks” and accept payment in bitcoins. And as a classic “divorce” – non-transfer of the “crypt” to people who sent payment for it to unknown people in ordinary rubles. According to some reports, law enforcement agencies insisted on the ban on the part of the Central Bank, concerned about the scale of the uncontrolled “crypto market” in Russia.
RUSSIAN DIGITAL DEVELOPEMENT MINISTRY VS CENTRAL BANK
- The ministry urged not to restrict trade, but to regulate it.
- according to the ministry, cryptocurrency is one of the fastest growing and promising sectors of the economy.
The head of the Ministry of Digital Development Maksud Shadayev is afraid of a “brain drain” due to the ban on trade in “crypto” Meanwhile, the government considers this a mistake. The first to speak was the Ministry of Finance, which is usually quite loyal to the actions of the Central Bank. The ministry urged not to restrict trade, but to regulate it.
As a model, the Russian stock market was cited in the Ministry of Finance. And they proposed to allow operations with “crypto” only through Russian banks, with the control and authorization of crypto wallets, as well as the introduction of qualifications for investors in such risky assets. And the Ministry of Digital Development warns of the global negative consequences of the ban on cryptocurrencies. Cryptocurrency, as you know, works on the basis of blockchain technologies, and this, according to the ministry, is one of the fastest growing and promising sectors of the economy.
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“Any restriction will lead to an outflow of specialized specialists to other countries,” the ministry warned. They reminded there that Vladimir Putin and the government of the Russian Federation “created serious conditions” for the development of the domestic IT industry and the creation of Russian software. And such a ban goes against the general policy of the state and even undermines it.
It seems that the dispute between the Central Bank and the government will be decided personally by Vladimir Putin. He has already called on the parties to “come to a consensus” and prepare proposals for him regarding cryptocurrencies and report on them in the near future.
