Nobody wants to let Russians make money from cryptocurrency operations

Nobody wants to let the Russians make money from cryptocurrency operations," said the official.

Cryptocurrencies in Russia?

Despite increased interest from Russian officials in cryptocurrencies such as Vitcoin (BTC), a Russian internet spokesman has expressed confidence that local cryptocurrency laws will remain largely unchanged.

Dmitry Marinichov, the Russian ombudsman for entrepreneurs to Russian President Vladimir Putin, discussed Russia's approach to cryptocurrency legislation during a panel that took place on Wednesday during Blockchain Life 2021.

Russia will therefore, as it turned out, continue to take a restrictive stance on cryptocurrencies, as the Russian government does not want Russians to make money on bitcoin, Marinichov said.

- I am sure that Russia's cryptocurrency policy will always be prohibitive because nobody wants to let Russians make money from cryptocurrency operations and nobody will ever allow them to make payments with money other than the ruble. It is important to be aware of this, he said.

Marinichev also argued that Russia's cryptocurrency laws, including the country's first cryptocurrency law, "On Digital Financial Assets," have nothing to do with individual investors and were adopted due to strong demand from large companies and state-backed entities .

- This law is aimed only at large companies and has nothing to do with the industry. It did not affect ordinary people and enthusiasts of the cryptocurrency and blockchain industry - argued the spokesman. He also noted that energy prices in Russia are not that attractive to cryptocurrency miners, claiming that the United States has "the cheapest electricity" in the world.

Marinichov was appointed the Russian ombudsman by President Putin in 2014. Earlier, he had already suggested that cryptocurrencies are used by the inhabitants of Crimea.

Marinichev's comments on Russian cryptocurrency laws are part of the landscape. It is about the growing interest of local governments in cryptocurrencies. Some Russian ministries even propose bitcoin mining using gas. At the same time, the Russian government remains skeptical of ibtcoin when it comes to the interests of its own residents, and the Bank of Russia wants to block some transactions on cryptocurrency exchanges.