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Medvedev: the position of the Central Bank on bitcoin is reasonable, but attempts to ban threaten to have the opposite effect

by Vaibhav
January 28, 2022
in Opinions
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Medvedev: the position of the Central Bank on bitcoin is reasonable, but attempts to ban threaten to have the opposite effect
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Deputy Chairman of the Security Council of the Russian Federation Dmitry Medvedev, during a discussion of the regulation of cryptocurrencies, said that attempts to ban something often lead to the opposite effect. Writes about it “TASS”.

He did not directly comment on his vision of the future of cryptocurrencies in Russia:

“Now I have a rather advantageous position in this sense: I believe that representatives of the Central Bank and the government of the Russian Federation will deal with this with success.”

He noted that the vision of the central bank “has its own reasons”:

“Although, to be honest, when they try to ban something, very often it leads to the opposite result,” Medvedev summed up.

Recall that the Central Bank proposed to ban the circulation of cryptocurrencies and mining in Russia, but almost no department supports this position.

See also  Annual losses of Russian banks from the introduction of CBDC estimated at 50 billion rubles

The Ministry of Finance has already prepared a concept for regulating cryptocurrencies instead of a ban.

Russian President Vladimir Putin asked the government and the Bank of Russia to come to a consensus on regulating the industry.

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Deputy Chairman of the Security Council of the Russian Federation Dmitry Medvedev, during a discussion of the regulation of cryptocurrencies, said that attempts to ban something often lead to the opposite effect. Writes about it “TASS”.

See also  Brave boss: NFT has signs of a scam, like the Internet in its early years

He did not directly comment on his vision of the future of cryptocurrencies in Russia:

“Now I have a rather advantageous position in this sense: I believe that representatives of the Central Bank and the government of the Russian Federation will deal with this with success.”

He noted that the vision of the central bank “has its own reasons”:

“Although, to be honest, when they try to ban something, very often it leads to the opposite result,” Medvedev summed up.

Recall that the Central Bank proposed to ban the circulation of cryptocurrencies and mining in Russia, but almost no department supports this position.

See also  Opinion: the era of “free money” for crypto investors is close to an end

The Ministry of Finance has already prepared a concept for regulating cryptocurrencies instead of a ban.

Russian President Vladimir Putin asked the government and the Bank of Russia to come to a consensus on regulating the industry.

Subscribe to Cryplogger news in Telegram: Cryplogger Feed – the entire news feed, Cryplogger — the most important news, infographics and opinions.

Found a mistake in the text? Select it and press CTRL+ENTER

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