More Pro-Crypto Proposals From Russian Government Agencies

Efforts to welcome Bitcoin in Russia continue to grow with the Ministry of Finance and the Chamber of Commerce and Industry being the latest two organizations to voice their proposals despite the Central Bank’s hardline stance.

According to the newspaper’s report KommersanIn Russia, the Minister of Finance of Russia Anton Siluanov sent a letter to Prime Minister Mikhail Mishustin on February 3, to reiterate the trend based on the ministry’s position in favor of regulating trading and mining. cryptocurrency in the country, instead of a ban.

Anton Siluanov has proposed to grant a number of Russian banks a license to give them the right to facilitate Bitcoin trading, with the same operating mechanism as the world’s cryptocurrency exchanges.

In addition, the Ministry of Finance has also received a letter from the head of the Russian Chamber of Commerce and Industry, Sergey Katyrin, with a call for the government agency to move Bitcoin mining out of the spotlight. present. The content is specified as follows:

“We found it necessary to make significant amendments to the existing law regarding the legal status of the cryptocurrency mining sector, incorporating relevant tax guarantees and other required payments. . This will help defuse tensions over illegal electricity use.”

On the other hand, President Vladimir Putin also concurred in supporting BTC mining and trading despite the central bank’s constant warnings that the industry could pose certain risks to the country. In fact, Russians own more than 200 billion USD in cryptocurrencies, accounting for 12% of the total market capitalization.

However, the current Russian government has made rapid progress to expedite the regulatory framework to connect with crypto businesses and investors by developing a complete and complete cryptocurrency regulatory roadmap. Best.

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