In a statement on January 26, 2022, Russian President Vladimir Putin acknowledged some advantages in bitcoin mining. Since then, talk of legalizing cryptocurrencies in Russia has started gaining momentum.
Central Bank wants total Ban-
The Russian Central Bank "Bank of Russia" considers cryptocurrencies a threat to financial stability and public welfare and has been pushing for a ban on all activities related to cryptocurrency.
Government Says No Ban-
The Russia's Ministry of Finance believes that banning crypto activities will leave the country lagging behind in the new global economic technology. Therefore, the Ministry has refused to impose any ban.
Support To Crypto
The Russian Department of Exchange and Finance considers cryptocurrency a new economic prospect, and is in favor of fully legalizing crypto as an asset.
Regulatory required
Although the regulatory bank of Russia considers cryptocurrencies as a new economy, it also treats the crypto market as gambling, so it has proposed to regulate crypto to reduce the risk.
Conclusion
Clearly, the Russian bank does not have any support in this matter, now President has started giving green signal too. Russia recently has become 3rd largest hash rate source of BTC dice the Chinese ban, Russians are taking this as a gain from China's loss.
