Russia Doesn't Consider Banning Cryptocurrencies

Russia doesn’t consider banning cryptocurrencies. On the other hand, there is no question of crypto being a means of payment in the country.

Russian Deputy Finance Minister Aleksey Moiseyev stated that cryptocurrencies will not be used as a means of payment in Russia, and said, "There is no plan to impose a ban on citizens buying cryptocurrencies in exchanges abroad." Answering the questions of journalists in the capital Moscow, Moiseyev pointed out that paying with cryptocurrencies poses dangers to the money supply in Russia. Moiseyev said, “Paying with cryptocurrencies is currently prohibited in Russia and this approach has not changed. For example, Sweden has implemented this, and in some regions national currencies are no longer valid.” Moiseyev explained that the Russians are free to invest in cryptocurrencies and said, "There is no plan to impose a ban on the purchase of cryptocurrencies by citizens on exchanges abroad." Sergey Shvetsov, First Vice-President of the Central Bank of Russia, announced on September 15 that payments from banks in the country to crypto exchanges will be slowed in order to prevent “emotional purchases”.