Bitcoin is "never" legalized in Russia
Nikolai Nikiforov, Russia's Minister of Communications and Mass Media, said in an interview yesterday that the government is not considering legalizing cryptocurrencies like Bitcoin in the near future.
According to the state news channel TASS, he is said to have said:
"Bitcoin is a foreign project that uses blockchain technology. Russian laws will never recognize Bitcoin as a legal object under the jurisdiction of the Russian Federation. "
However, he added that it was "very likely" that Russia would use blockchain technology or other digital tokens. Nikiforov, however, did not specify what tokens meant.
It was not until October that the Ministry of Communications had prepared a document containing the technical details for a state-owned cryptocurrency.
At that time he declared:
"I think we should continue from the technical point of view and provide such tools. It is not possible to achieve anything through prohibitions in digital development. "
It was only in May that the ministry said that a legal framework for the blockchain should be established within the next two years.
While the Russian government is balking at Bitcoin, some MEPs have spoken positively about the cryptocurrency in the recent past.
As the Chairman of the Russian Central Bank said last week, Initial Coin Offerings (ICOs for short) would provide opportunities for young companies. The head of the Federal Tourism Agency had also recently explained how Blockchain could change the tourism industry.
"Bitcoin is a foreign project that uses blockchain technology. Russian laws will never recognize Bitcoin as a legal object under the jurisdiction of the Russian Federation. "
However, he added that it was "very likely" that Russia would use blockchain technology or other digital tokens. Nikiforov, however, did not specify what tokens meant.
It was not until October that the Ministry of Communications had prepared a document containing the technical details for a state-owned cryptocurrency.
At that time he declared:
"I think we should continue from the technical point of view and provide such tools. It is not possible to achieve anything through prohibitions in digital development. "
It was only in May that the ministry said that a legal framework for the blockchain should be established within the next two years.
While the Russian government is balking at Bitcoin, some MEPs have spoken positively about the cryptocurrency in the recent past.
As the Chairman of the Russian Central Bank said last week, Initial Coin Offerings (ICOs for short) would provide opportunities for young companies. The head of the Federal Tourism Agency had also recently explained how Blockchain could change the tourism industry.
Post a Comment