Russian Ministry of Finance Made A Cryptocurrency Statement

The Russian Ministry of Finance made a cryptocurrency statement. Chebeskov stated that the motivation has increased.

Ivan Chebeskov, an official at the Russian Ministry of Finance, said that the sanctions increased Russia's motivation to build its own infrastructure for the cryptocurrency market. In his speech at the International Banking Day conference, Chebeskov, the finance policy manager of the ministry, pointed out that it has become very difficult for Russians who invest in cryptocurrencies abroad to withdraw their money and convert it into fiat money. The ministry official said, "Russian citizenship is causing concern among foreign regulators. Money is blocked, new accounts are not allowed to be opened. Therefore, Russia's motivation to create its own infrastructure for digital currencies is of course increasing." Currently, it is stated that for Russian citizens, converting cryptocurrencies to fiat money in Russia and abroad may cause their money to be blocked. According to the Ministry of Finance, an increasing number of investors are willing to transfer their coins to Russia.