Russian Prime Minister Called For Crypto Integration

Russian Prime Minister Mikhail Mishustin called for crypto integration into country’s economy at the Liberal Democratic Party meeting.

Russian Prime Minister Mikhail Mishustin said that it is necessary to integrate digital currencies into the country's financial system. Mishustin underlined that this issue can only be resolved jointly with the central bank. In his speech at the meeting, Mishustin met with members of the Liberal Democratic Party and said, "Obviously, such issues can only be resolved jointly with the Central Bank in order to evaluate the risks posed by cryptocurrencies in terms of money circulation in Russia." The Prime Minister also called for measures to be taken to further regulate mining. Mishustin also reminded that the government approved the roadmap laid out by the finance ministry on the regulation of cryptocurrencies last month. These statements of Mishustin came after the words of Russian deputy Yaroslav Nilov, who was present at the meeting on behalf of the Liberal Democratic Party. Nilov argued that they are against the prohibition of cryptocurrencies and that the industry should be supported. To recall, the Central Bank of Russia proposed to ban cryptocurrencies last January. This proposal caused controversy in the country and was opposed by the finance ministry. Then Putin stepped in and asked the ministry and the central bank to meet on a common point on cryptocurrencies. Putin also stated that Russia is in an advantageous position in cryptocurrency mining.