The Ministry of Digital Development called bitcoin ban a blow to the Russian IT industry

According to Minister Maksut Shadaev, digital assets should not be banned, but the transparency of the market should be ensured

29.01.2022 - 08:40

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1 min

What’s new? Maksut Shadaev, head of the Ministry of Digital Development, believes that limiting the turnover of cryptocurrencies does not correspond to the policy of supporting the IT industry in the Russian Federation. This is reported by the online edition of Vedomosti.

Information on the Vedomosti website

What does the minister say? In his opinion, digital assets should not be banned, but the transparency of the market should be ensured. Shadaev advocates reducing the risks for honest investors through clear legislative acts.

“Any regulatory restriction in this area will lead to an outflow of core specialists to other countries. At a time when the president and the government have created serious conditions for the development of national software developers, imposing a ban on the circulation of cryptocurrencies does not fit into the general framework of the ongoing policy to support the industry,” said Maksut Shadaev, head of the Ministry of Digital Development.

What are the prospects? The Ministry of Finance of the Russian Federation has proposed a concept for the regulation of the cryptocurrency market, according to which the Ministry of Finance will become one of the six supervisory bodies. The Ministry of Finance also believes that there is a need to define key parameters of mining.

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