Mishustin: more than 10 million Russians have invested in crypto

According to the Russian Prime Minister, residents of the Russian Federation have invested more than 10 trillion RUB in digital assets

07.04.2022 - 11:55

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What’s new? More than 10 million Russian residents have opened cryptocurrency wallets and transferred more than 10 trillion Russian rubles (RUB) to them. This statement was made by Russian Prime Minister Mikhail Mishustin during the government’s annual report to the State Duma, RIA Novosti reports. The government opposes the recognition of cryptocurrencies as a means of payment, the prime minister added. In his view, it is necessary to “work seriously” on the regulation of digital assets.

RIA Novosti’s material

The Central Bank’s criticism. Earlier, the Bank of Russia once again criticized cryptocurrencies. The agency called them a Ponzi scheme and also stated the danger of the replacement of the ruble with digital currencies.

In March 2022, the Central Bank instructed financial institutions to strengthen supervision of transactions involving digital assets. According to the decree, transactions with cryptocurrencies should not violate Russia’s retaliatory sanctions against countries that have imposed economic restrictions on Russians. The document also provides for a ban on the use of cryptocurrencies for the withdrawal of assets abroad.

What had happened before? In early April, Russian President Vladimir Putin signed a law on the disclosure of crypto assets of the election candidates. The State Duma passed the document on March 23 and it was approved by the Federation Council on the same day.

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