Russia will make a decision in 2022 to prohibit encrypted currency and make legalization between encrypted currency transactions

With the arrival of 2022, the world’s largest country will arrive at the crossroads of encryption supervision.

On Thursday, there has been an contradictory report on the status of encrypting monetary supervision. First, a report of Reuters pointed out that the Russian central bank is seeking to prohibit encrypted currencies, the reason is the risk of financial stability and surges. If it takes effect, this move will be consistent with the speech published by Russian President Vladimir Putin last month in Moscow. Putin said that encrypted currency “undertake high risk”. The Bank of China is currently preparing a consultation report on this issue.

However, according to local news media, the Russian National Duma (Russian Parliament) Financial Market Committee Chairman Anatolyaksakov published the following statement at the press conference on the same day:

There is a very tough approach to completely disabled currency, such as acquisition or ownership. There is also a method that must have an appropriate encryption exchange, everything is legal, transparent, and can be understood by regulatory agencies. For the Russian Federation Taxation Bureau, the taxation will be more easy to pay for such (foreign exchange) transactions.

Chairman, AKSAKOV, also expressed his support for national encrypted monetary mining supervision, which cited factors such as mining tax and commercial power consumption. The country’s authorities prioritize CBDC rubles, and have implemented severe hits in the field of private encryption, including ban common fund investment Bitcoin (BTC). Recent data shows that Russians are about $ 5 billion a year in encrypting money.