United Russia discussed the use of cryptocurrencies to protect against sanctions

In Russia, 12% of the population is involved in cryptocurrency transactions, the party noted

07.03.2022 - 15:55

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What’s new? The United Russia party held an expert roundtable on the development of blockchain technologies and regulation of the digital assets market, PLN reports. The event was attended by the representatives of crypto exchanges, the Ministry of Finance, and the expert community. The roundtable participants concluded that the legalization of cryptocurrencies and their legal conversion into the Russian ruble will help minimize the impact of sanctions.

PLN’s article

What else did the roundtable participants discuss? The participants of the event agreed that mining should be legalized. The Ministry of Finance has drafted a bill to regulate cryptocurrency mining. The document legalizes the concepts of “mining,” “cryptocurrency exchanger” and “crypto exchange,” said Osman Kabaloev, Head of the Banking Regulation Division at the Financial Policy Department of the Ministry of Finance.

What preceded it? As previously stated, the digital ruble can help Russia abandon the US dollar and soften the blow of sanctions.

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