Published: 21.04.2022
Article reading time:
2 minutes.
Ivan Chebeskov, director of the financial policy department of the Ministry of Finance of the Russian Federation, said that the “landing” of foreign cryptocurrency exchanges is now quite difficult.
Against the backdrop of Russia’s military operation in Ukraine and large-scale Western sanctions against Russia, the interest of cryptocurrency exchanges in opening legal entities in the country has noticeably decreased. Chebeskov made the corresponding statement, speaking at the Blockchain Life 2022 forum:
“We understand that a “landing” of foreign exchanges is becoming unlikely. Literally two months ago, foreign exchanges actively participated in these discussions, including Binance, which were very interested in opening their own legal entities in Russia. Now, it seems to me, this interest has subsided a little. But in this regard, the relevance of the legislative regulation of digital currencies has only grown.”
The official says that Russian users of cryptocurrencies need to regulate this industry and protect their interests from the state. It is also necessary to work out the regulation of the mining industry, to recognize it as an entrepreneurial activity.
At the same time, the Ministry of Finance, according to Ivan Chebeskov, is not going to “nightmare” the digital asset industry. On the contrary, the department is going to make regulation “liberal and relatively free.” This should help the development of cryptocurrency and mining companies in Russia. Moreover, blockchain and digital assets have the potential to structurally change the traditional financial system.
“Maybe it will happen, maybe it won’t. We don’t know for sure, but we at least want to give it a chance,” Chebeskov said.
Recall that recently the Ministry of Finance presented a revised bill “On digital currency”. The document is currently under consideration by the government.
Source: Bits
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