Within months, the sentiments to ban cryptocurrencies in Russia have extensively modified, and at present, key government officials are the ones advocating for ways to incorporate the nascent asset class into the system.
In a recent revelation, Russia’s Minister of Industry and Trade Denis Manturov said that the step to authenticate cryptocurrencies as means of payment in the country is bound to happen “sooner or later.”
The claims were made at a forum Wednesday when the minister was questioned whether crypto would come as a legal payment method in the country. The question is, “when this occurs, how will it be handled?”
The Russian government and the (CBR) – Central Bank of Russia have divergent views on how Russia should regulate cryptocurrencies. The government had introduced a counter-proposal that will control a covering ban and harsh fines on cryptocurrencies back in February.
Likewise to countries such as El Salvador, Ukraine, and the Central African Republic, where making payments with cryptocurrencies is legalized, Russians will be able to experience the ultra-fast payment provisions that Bitcoin brings all users generally.