Banning Crypto Is Like Banning Internet in Russia, Finance Minister Says Amid...

Banning Crypto Is Like Banning Internet in Russia, Finance Minister Says Amid...

It’s impossible to ban cryptocurrencies in Russia, the country’s minister of finance has stated in his first comments on his department’s latest disagreements with the Russian monetary authority. The two institutions are reportedly failing to reach consensus on crypto regulation but the treasury intends to submit draft legislation despite their differences. Disagreements on Future of Cryptocurrencies Persist Between Finance Ministry and Bank of Russia A meeting between the Central Bank of Russia (CBR) Governor Elvira Nabiullina, Russian Finance Minister Anton Siluanov,....


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Banning Bitcoin in Russia is 'same as banning the internet,' minister says

Bank of Russia governor Elvira Nabiullina previously argued that banning Bitcoin in Russia was “quite doable." Banning cryptocurrencies like Bitcoin (BTC) is impossible, Russia’s finance minister Anton Siluanov declared as the Bank of Russia keeps calling on the state to ban crypto in the country.Placing a ban on crypto in Russia is the “same as banning the internet, which is impossible,” Siluanov declared at the ministry’s briefing with the central bank, Forbes Russia reported Wednesday.The finance minister reportedly said that starting regulating the cryptocurrency industry as soon as....

New Details About India Banning Cryptocurrency Emerge — Crypto Community Sees...

New details have emerged suggesting that the Indian government will go ahead with banning cryptocurrency, in contrast to what the crypto community believes. In her latest interview regarding cryptocurrency legislation, India’s finance minister said that there will be a window for experimentation for cryptocurrency, blockchain, and fintech. Reports of India Banning Cryptocurrency The Indian crypto community is closely watching whether the government will ban cryptocurrencies, including bitcoin. A cabinet note regarding cryptocurrency legislation is being finalized and will soon be....

Russia Will Not Try to Ban Home Crypto Mining, Finance Ministry Official Indi...

A high-ranking representative of the Ministry of Finance in Moscow sees no point in banning crypto mining in Russian households as it would be hard to restrict the activity. The top official also revealed that the department is currently finalizing regulations for the mining sector as part of efforts to legalize Russia’s crypto space. Russia Prepares to Legalize Cryptocurrency Mining Trying to prohibit at-home crypto mining makes no sense as it would be difficult to impose such a ban, according to Alexey Yakovlev, deputy director of the Financial Policy Department at the....

Indian Finance Minister Tells Banks to Promote Digital Banking

Arun Jaitley, Finance Minister of Corporate Affairs in the Cabinet of India, has said that banks should start to promote digital banking in ‘mission mode’ to limit the use of physical currency. It is hoped that by doing so cashless transactions will increase in the country, reports The Times of India. Only recently the Indian Prime Minister Narendra Modi announced the banning of two of the country’s biggest fiat banknotes in the country. The move, according to Modi, was to tackle corruption, black money, and terrorism. It is also believed that the withdrawal of the Rs 500 and Rs 1,000....

Crypto bill incoming: Russia’s finance ministry kicks off public comment period

The Ministry of Finance is seeking industry and public input on how to regulate digital assets by March 18. The Ministry of Finance of the Russian Federation has officially initiated work on the country’s cryptocurrency regulation bill, filing the first public notice on the federal legal portal. Russia’s finance ministry on Thursday filed two development notices announcing the start of the process of developing a legal framework for activities related to transactions with digital currencies and their issuance.The first notice, called “On Digital Currency,” informs about the government....