Russia not ready to accept Bitcoin as legal tender, says Kremlin

The Russian federal government maintains urging that repayments in cryptocurrencies like Bitcoin would certainly wreck its economic system.

Russia not ready to accept Bitcoin as legal tender, says Kremlin

Amid El Salvador formally approving Bitcoin (BTC) as legal tender on Tuesday,Sept 7, the Russian federal government has actually restated its adverse position to a situation where BTC can be approved as a main money.

Dmitry Peskov, the main rep of Russian President Vladimir Putin, asserted that Russia has no factor to identify Bitcoin as legal tender, regional information firm RIA Novosti reported on Tuesday.

The Kremlin depictive suggested that placing cryptocurrencies like Bitcoin in accordance with conventional cash tools would certainly bring just hinderances to the nation’s economic and also financial system.

“Clearly, Russia is not ready for such actions,” Peskov supposedly proclaimed.

Peskov’s most recent comments can be found in line with the Russian federal government’s long-running hesitant technique to Bitcoin, resembling a comparable declaration by Anatoly Aksakov, a participant of the State Duma and also a vital engineer of Russia’s restriction on cryptocurrency repayments. Last August, Aksakov suggested that approving cryptocurrency as repayment would basically suggest the “devastation of a monetary system.”

Related: Survey discovers 77% of Russian capitalists favor Bitcoin to gold and also foreign exchange

Russia formally outlawed cryptocurrency repayments in the nation as component of the nation’s significant crypto regulation, “On Digital Financial Assets,” in January 2021. The regulation does not forbid Russians from buying or trading cryptocurrencies likeBitcoin In May 2021, some Russian legislators were supposedly considering a partial turnaround of the crypto repayment restriction, taking into consideration changes to permit crypto repayments as a “legal tool.”

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