Opposing Bitcoin payments, Russian banks say that the state should not stimulate the spread of cryptocurrencies – Regulate Bitcoin News

Opposing Bitcoin payments, Russian banks say that the state should not stimulate the spread of cryptocurrencies – Regulate Bitcoin News



The governor of the Russian Central Bank insists that cryptocurrencies are anonymous and the government should not encourage their spread. Regulators are still firmly opposed to the legalization of Bitcoin as a means of payment in the Russian Federation.

Bank of Russia reiterates its negative stance on the legalization of cryptocurrencies and Bitcoin

Elvira Nabiullina, Chairman of the Central Bank of Russia, stated that “responsible countries” should not stimulate the proliferation of cryptocurrencies.Community rehabilitation). The head of the monetary authority issued a statement in the State Duma of the Lower House of the Russian Parliament.

The senior official emphasized that the bank “has an extremely negative attitude towards cryptocurrency,” which she described as “private currency that pretends to be currency”. TASS News Agency quoted Nabiullina as saying:

These cryptocurrencies are anonymous and no one is responsible for them. In our opinion, a responsible country should not stimulate their spread and squeeze them out of payment.

The governor acknowledged that, at the same time, there is a need to provide people with alternatives. The Bank of Russia is trying to do this through its project. “I have already talked about the digital ruble-in our opinion, this should be developed,” Elvira Nabiullina added.

Against Bitcoin payments, Russian banks say the country should not stimulate cryptocurrencies

The head of the Russian monetary policy supervisory agency stated that CBR generally does not oppose digital currencies, provided that they are not used for “shadow operations.” However, Nabiullina pointed out that Russian banks continue to oppose the legalization of Bitcoin as a payment tool in the country.

In response to the increasing popularity of cryptocurrencies and the significant increase in electronic payments, the Central Bank of Russia has stepped up its efforts to create a digital version of the national legal currency, the ruble.This year, the regulator established a Digital ruble Pilot team and more than a dozen financial institutions.A prototype Central Business District The platform will be launched in December, and trials are scheduled to begin in January.

Nabiullina needs the digital ruble recently because it will facilitate cheap and reliable non-cash payments Tell Participant of the International Banking Forum. According to the country’s latest financial market development strategy, the digital currency issued by the country should prevent citizens from using “Money agent“This is a term used by Moscow officials to describe cryptocurrency.

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Do you think Russia will legalize Bitcoin as a means of payment? Share your expectations in the comments section below.

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