Nikolai Nikiforov, Russian Minister of Communications and Mass Media, said his country will never consider legalizing cryptocurrencies such as bitcoin.
“Bitcoin is a foreign project for using blockchain technology, the Russian law will never consider bitcoin as a legal entity in the jurisdiction of the Russian Federation.”
Nikiforov also said it would be “quite possible” that his country considers the possibility of using blockchain technology or digital tokens. However, he didn’t specify in which context these technologies could be used by Russia.
A month ago, the country’s minister had stated: “I think we should go ahead from the technological viewpoint, providing such instruments. It is hardly possible to get anything via restrictions amid digital economic development.”
While the Russian government seems to dislike the idea of digital currencies, several high ranked officials have expressed their sympathy for the blockchain technology.
Meanwhile, in its latest record-breaking price raise, bitcoin’s value went above $8,200 on November 20, only four days after the digital currency surpassed the $8,000 mark. Many analysts stated that bitcoin’s value will continue to increase in the times to come.Trade here