State Duma Deputy considers a ban on cryptocurrencies in Russia pointless

Andrei Lugovoy calls for a compromise to be reached in discussion with all parties

16.02.2022 - 08:00

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What’s new? According to RBC, Russia has no plans to consider options for banning cryptocurrencies. In particular, Andrei Lugovoy, the First Deputy Chairman of the State Duma Committee on Security and Anti-Corruption, stated that he considers such a scenario to be pointless.

News source on the RBC website

What arguments did the deputy give? According to Lugovoy, the authorities will not impose such harsh measures as a ban on working with cryptocurrencies. Currently, only the Central Bank is taking such an initiative, but no real proposals have been sent to the State Duma.

“Talking about any possibility of allowing a ban at the moment is pointless. There are different points of view, which should come to some common understanding in the course of the discussion,” the deputy concluded.

What had happened before? On February 11, was mentioned that the Russian government decided not to consider bitcoin as a virtual asset, but to equate it with foreign currencies. By February 18, the Ministry of Finance and the Bank of Russia should prepare a bill on the circulation of cryptocurrencies.

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