Russia’s Stance Towards Cryptocurrencies Remains Ambiguous

Speaking at the state-owned TV channel Russia 1, the country’s finance minister Anton Siluanov has stated that bitcoin will not replace ruble for internal settlements.

“Most certainly, ruble was and is the basis of settlements. No cryptocurrency will be used in this capacity, that’s a fact,” he said.

According to Mr. Siluanov, bitcoin is not trustworthy as it is a money surrogate.

“Bitcoins are not monetary units of the Russian Federation, they are not rubles. There’s no trust to them. In any case, it’s an instrument that professional players should use. It should be those who understand whether the index of such cryptocurrency would decline or rise,” he stressed.

Earlier this month, representatives for Russia’s Central Bank suggested a possibility of banning websites that offer cryptocurrency trading…

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