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Dramatic decline in the pace of development of the IT industry in Russia. The Ministry of Digital Development did not support the idea of ​​banning cryptocurrencies in Russia, which the Central Bank insists on

We have already written about the sensational report of the Central Bank, in which the regulator argues for the need for a complete ban on cryptocurrencies in Russia. This position was not supported by either the Ministry of Finance or the Ministry of Digital Development. The latter released its official statement on the matter.

First of all, the Ministry of Digital Development, Telecommunications and Mass Media supports the position on the need to respond to the risks associated with the use of cryptocurrencies to finance illegal activities and the formation of financial pyramids, as well as the risks associated with fraud. But at the same time, it is noted that the industry of blockchain solutions used to issue and circulate cryptocurrencies is one of the fastest growing in the software industry. Many successful international projects in the field of cryptocurrency have Russian roots.

The introduction of any restrictions on the issuance and circulation of cryptocurrencies will lead to the fact that the industry of blockchain solutions within the country will cease to develop. Any regulatory restriction in this area will lead to an outflow of specialized specialists to other countries. In conditions when the President and the Government have created serious conditions for the development of national software developers, the introduction of a ban on the circulation of cryptocurrencies does not fit into the general framework of the ongoing policy to support the industry.

Head of the Russian Ministry of Digital Development Maksut Shadayev

In this regard, the Ministry of Digital Development proposes to form the necessary measures for state regulation of the market for the issuance and circulation of cryptocurrencies, ensuring its transparency and reducing existing risks for conscientious investors in cryptocurrencies.

Recall that earlier Bloomberg, citing sources close to the President of Russia, reported that Vladimir Putin is against the ban on mining in the country.

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