Very soon Russia might legalize cryptocurrencies as a means of payment, its Industry and Trade Minister Denis Manturov said on Wednesday.
He made the comment while suggesting that the Russian government and central bank may be moving closer to settling their differences.
Denis Manturov while being asked about the legal stand on cryptocurrencies, said, “The question is, when this happens, how it will be regulated, now that the central bank and government are actively working on it.”
He added, “But everyone tends to understand that … sooner or later this will be implemented, in some format or other.”
The country has plans to issue its own digital rouble however, the government is also mooting to support the use of private cryptocurrencies.
There have been arguments for years that they could be used in money laundering or to finance terrorism.