Amid a wave of new financial penalties, the Central Bank of Russia (CBR) has started exploring methods to incorporate blockchain technology and crypto-assets into its domestic financial system. The CBR issued a public consultation study titled “Digital Assets in Russian Federation”on 7 November. It evaluated whether the sanctioned state might allow foreign digital asset issuers […]
Amid a wave of new financial penalties, the Central Bank of Russia has started exploring methods to incorporate blockchain technology and crypto-assets into its domestic financial system.“Digital Assets in Russian Federation”on 7 November. It evaluated whether the sanctioned state might allow foreign digital asset issuers – especially “friendly countries” – access to its domestic market.
Also, according to a well-known politician, recent legislation aims to allow the minting of any cryptocurrency in Russia. The proposed law specifies that the coins should be circulated outside of Russian territory, but a subsequent bill allows for their usage in “experimental regimes.” Although a legal foundation for digital assets has been established, the Central Bank has claimed that better regulation is necessary for the industry’s future development. It added,
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