According to Ivan Chebeskov’s share, the Ministry of Finance opposed the place of the Central Bank of Russia earlier this month when it issued a report proposing a comprehensive ban on the organization and mining of cryptocurrencies. Speaking of the head of the policy division of the Russian Ministry of Finance shared: “We need regulations, not bans.”
The Russian Ministry of Finance has also ready a proposal for the government to look at. Chebeskov says: “Banning cryptocurrency trading and mining would mean undermining the industry’s technological development. We need to let these technologies evolve.”
The report of the Central Bank of Russia has pointed out that cryptocurrencies are a risk to the financial stability of the nation. Proposing a ban on cryptocurrency trading and mining as very well as imposing penalties for violating this ban has also obtained a good deal of awareness. But there have been lots of objections to this proposal of the Central Bank of Russia. Currently, the financial institution is waiting for a response right up until March one.
Governor of the Central Bank of Russia, Elvira Nabiullina was influenced by Russia’s Federal Security Service to generate this report, which is concerned about the use of cryptocurrencies by members of the political opposition in Russia.