Markets"Central bank is like a shield": Ministry of Finance...

“Central bank is like a shield”: Ministry of Finance on the failure of efforts to legalize cryptocurrencies


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The Ministry of Finance supports the legalization of the cryptocurrency market on the territory of the Russian Federation, but the Bank of Russia firmly defends its views on this issue. In this regard, the parties have not yet found a compromise, Russian Finance Minister Anton Siluanov said at a meeting with university students within the FinHealthy online marathon, RIA Novosti reports.

He noted that payments in foreign currency are prohibited in the country. At the same time, according to him, a person can have them – it is not forbidden. It would be wise to do the same for cryptocurrency, Siluanov noted.

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He also emphasized that the country has drafted a bill to regulate cryptocurrency mining. He believes that the legalization of mining is a positive process.

“But the central bank is like a shield, the wall is standing until death,” said the Minister of Finance.

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He noted that it is appropriate to develop the crypto market in Russia. However, he said, there is no need to come suddenly on this if the regulator has concerns.

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Earlier, Bloomberg reported, citing informed sources, that the Genesis cryptocurrency exchange had liquidity problems following the financial scandal caused by the collapse of the FTX crypto exchange. Genesis is likely to file for bankruptcy soon, the article said.

Source: rambler

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I’m a news writer for 24 Happenings, an online magazine that caters to people who want to know about things that are happening in the world. I grew up in the Midwest and have always been interested in writing. After trying out a few different styles of writing, I landed on my current genre – investigative journalism. When I’m not working on my next project or following my favorite team, I like to spend time with family or go for walks around my neighborhood.


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