Russian banks should be authorized to settle crypto services while investing in digital assets should be treated as investing in precious metals, Anton Siluanov said.
opposed such harsh legislation. The nation’s leader opined that Russia could benefit from digital asset mining, while the latter stated that a regulatory framework is more appropriate than a China-style prohibition., Russia’s Finance Minister – Anton Siluanov – supports that idea. In a letter addressed to Prime Minister Mikhail Mishustin, he proposed that local banks should have the authorization to organize digital asset services.
Still, Russia’s Finance Minister and the nation’s central bank share some similarities in their viewpoints. They both think that digital assets can not serve as a legal tender inside the state’s borders.Siluanov noted that local investors own approximately 2 trillion rubles worth of crypto. His assumption is significantly different than an estimate revealed by the Russian government earlier this week.
that Russians hold around $215 billion of digital assets, representing 12% of the total value of the market.By the looks of it, the world’s leading cryptocurrency exchange – Binance – is not concerned about the controversy in Russia. Last week, the companyit seeks to expand its services to the largest country by landmass and to some of its neighbors.
Gleb Kostarev – Eastern European Director of Binance – acknowledged that the firm’s goal is to secure a license wherever regulations allow it. In his view, Russia would soon apply comprehensive rules to its crypto ecosystem. The exec also pointed out that local investors generated an annual volume of digital asset transactions at about $5 billion, which is highly attractive to Binance.
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