A senior official at Russia’s Central Bank insists the so called initial coin offerings (ICOs) could drive funding opportunities for startups, which is why the regulator is ready support the development of the blockchain funding model.
The deputy head of Russia’s central bank Olga Skorobogatova has stated that cryptocurrency mining as a business has to be registered and taxed. The official insists that mining is more than just production of cryptocurrencies. “Mining is validation of transactions that are represented as blocks on the blockchain. Validation is.
Speaking at the state-owned TV channel Russia 1, the country’s finance minister Anton Siluanov has stated that bitcoin will not replace ruble for internal settlements.
Russia’s appetite for Bitcoin has been overblown by the media, the head of Russian bank VTB International Riccardo Orcel said Tuesday.
Russia plans to introduce limitations to the maximum amount of purchased cryptocurrencies.
In the latest twist of events, Russian government claimed it intends to “head and legally regulate” issuance and turnover of cryptocurrencies.
Russia’s president Vladimir Putin has stated that introduction of digital technologies in finance shall be subject to a thorough discussion to avoid cryptocurrency-related risks.
According to the first deputy chairman of Russia’s Central Bank Sergei Shvetsov, Russia will ban websites that offer cryptocurrency trading. He noted that the regulator’s stance towards cryptocurrencies and their derivatives was negative.