A while back, the world of crypto was turned upside down by messages from China. The country’s central bank announced that they would ban the trading of cryptocurrencies for everyone.

This had major consequences for the price of, among other things, bitcoin (BTC) and major crypto exchanges such as Huobic and Binance were forced to close their doors to Chinese customers.

Russia is not following China

There were major concerns among crypto investors worldwide that other countries could possibly follow in China’s footsteps and also trade in cryptocurrencies. cryptocurrencies go banned.

However, no country has announced this so far. One of the countries that was immediately thought of at the time was Russia, but a message from the Deputy Finance Minister there now shows that Russian crypto investors do not have to worry for the time being.

The minister in question, Alexey Moiseev, indicated local news platform know that according to him, the Russian government currently has no plans to ban crypto trading for nationals as China recently did.

“Citizens can buy cryptocurrencies and wallets use outside the Russian Federation. I expect it will stay that way. There are no plans to change this.”

Nevertheless, there is still a ban on crypto as a means of payment in Russia. Moiseev indicates that the Russian government does not intend to change its position here either.

Discussion in Russia

Unlike many other government officials in Russia, Moiseev is quite positive about crypto in general. According to him, the new technology has great potential and can be used to improve the financial network.

Some powerful figures in Russia also believe that Russia should take steps to embrace bitcoin and other cryptocurrencies. One of those persons is the oligarch Oleg Deripaska, a while ago the richest man in Russia.

According to him, Russia’s central bank should adopt bitcoin as legal tender as soon as possible and follow El Salvador’s example.


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