Speaking at the conference "Banks. Transformation. Economy. 2.0," Deputy Minister of Finance of the Russian Federation Alexei Moiseev called cryptocurrencies "evil." "Crypto is generally evil. I believe that people who invest their savings there are taking a very big risk. This is our position, shared with the Central Bank," Moiseev said.
At the same time, the Deputy Minister believes that "crypto" has advantages in comparison with ordinary payment methods. "There are a number of advantages. This is the absence of correspondent accounts, this is the ability to conduct operations instantly, practically without compliance in a number of countries, and so on and so forth. And this can and should be used where possible," Moiseev said.
So far, the circulation of cryptocurrencies is not regulated in any way in Russia. But the State Duma Committee on Financial Markets is already considering a bill that will prescribe the possibility for miners to sell "crypto" provided that all transactions are declared and transparent. The bill will also establish an experimental legal regime for conducting foreign trade settlements with cryptocurrency.
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