The Authorities Don’T Support The Ban Cryptocurrency In Russia

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August 18, 2022
4 minutes

Total prohibitions and repressions in relation to the cryptocurrency industry can set the russian federation in the world arena. So consider members of the government, representatives of the power departments and deputies of the state duma.

The Authorities don't Support The Ban Cryptocurrency in Russia

The central bank of january 20 present a risk report that is carried by cryptocurrency for citizens and financial sector of the russian federation. The regulator drew attention to high volatility is digitized, the threat of stability and the ability to lose its money by citizens. Therefore, the central bank said: mining and transactions with cryptocurrency in the country need to ban.

Most state bodies, including representatives of the state duma, government, fsb, prosecutor general’s office, ministry of internal affairs and other departments, negatively respondd to the statements of the central bank. Deputies argue that the authorities don’t suppident the position of the regulator, and are confident that such repressive measures will present russia in a disadvantageous light.

Andrei lugovoy draws attention to the fact that the central bank is trying to incorrect the law «about digital phynactiva». Deputies that took the document under digital finactivities, including those understood and cryptocurrency. However, the central bank is trying to prove that the law we are talking about completely different assets.

Also andrei lugovoy informed lenta’s publication.Ru taat deputies accepted the law in the first reading, which will allow to bring crypto industria into a legal field. However, further promotion of the act blocks the first reading stopped supporting the document. The regulator does not agee to the amendments that the government contributees, respectively, there is no possibility to accept the law.

The first depeuty chairman of the security committee tat the position of the bank of russia has no reason for sufficient argumentation. A complete ban requires a maximum justification, with the lifting of numbers and explanations. At the same time, andrei lugovoy is sure: the necessary results will not bring the prohibition, but only worsen the situation and the situation of people who have digital assets in their hands.

Full Ban Requires Maximum Justification

Experts compare cryptocurrency with social networks: at one time the were also distinguished wary, but later began to regulate. The ban on some social networks did not bring anything, and the parallel traced here: the full ban of the turnover of the crypts will also lead only to the transition of the industry into an illegal field.

Anatoly aksakov declares that the cross in crypto industry is early to put a cross, and the statements of the central bank perceives only as a reason for discussions. Head of the state duma committee on finryanka sure: report – this is not a final law, but only a document that lays the foundation for the subject discussion.

With the fact that the report of the central bank is only a starting point for a wide discussion, i agree and anton gorelkin. In its telegram-channel, the deputy chair of the dg committee on inform polatik recalled that, according to experts, russians own 17 million cryptocurrency wallets, in which more than 7 trillion rubles are located in the equivalent. This is a large amount that is about 5% of russian gdp.

At the same time anton gorelkin is confident that the ban is not called the correct decision. The expert agrees with many regulator arguments, but shares the position of experts and believes that the future – for blockchain. Therefore, the prohibition of cryptocurrency will negatively affect russia’s high-tech development.

We remind you at the beginning of the 2022nd anatoly aksakov urged to create an appropriate legal field in russian crypto industry: to establish taxation and control over the purchase, sale of crypts, identify market participants and make mining to the okved classifier.

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