Technology

Russia to legalise cryptocurrency as means of payment ‘sooner or later’

Russian Industry and Trade Minister Denis Manturov has said that the country will sooner or later legalise cryptocurrencies as a means of payment, suggesting that the government and central bank may be moving closer to settling their differences. The Russian minister was asked at a forum whether he believed cryptocurrencies would become legal as a means of payment. In reply, Manturov said, “The question is, when this happens, how it will be regulated, now that the central bank and government are actively working on it.” “But everyone tends to understand that … sooner or later this will be implemented, in some format or other.” Shortly before Russia sent tens of thousands of troops to invade Ukraine on 24 February, the finance ministry submitted legislative proposals that clashed with the central bank’s demand for a blanket ban.

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