RATE Group | Russia Poised to Issue Blanket Ban on Cryptocurrency Payments – BeInCrypto
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Russia Poised to Issue Blanket Ban on Cryptocurrency Payments – BeInCrypto

29 Nov Russia Poised to Issue Blanket Ban on Cryptocurrency Payments – BeInCrypto

Posted at 10:49h in Cryptocurrency News by

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The government of Russia has been toying with the possibility of interfering in the country’s cryptocurrency space as of late. Several calls have been made for the country to completely legalize digital assets, but it would seem that the Kremlin isn’t prepared to have enough patience to deal with them at all.

BeInCrypto’s Russian news domain reported on the story earlier today, detailing how the Central Bank of Russia and financial monitoring watchdog, Rosfinmonitoring, are preparing to issue a blanket ban on digital payments.

The deputy head of the banking regulation department of Russia’s Ministry of Finance, Alexei Yakovlev, is spearheading the resistance. Yakovlev doesn’t see any use cases for Bitcoin to be used as a payment method, hence the need to curtail its growing use for making payments.

While the Russian Central Bank has refrained from making any official announcement on the matter, anonymous sources within the bank believe that such an initiative is welcome.

Russia Crypto

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