Russia Will Not Issue China-Style Clampdown on Bitcoin and Crypto Trading, Says Deputy Finance Minister: Report

Russia Will Not Issue China-Style Clampdown on Bitcoin and Crypto Trading, Says Deputy Finance Minister: Report


Russians will not be prohibited from trading cryptocurrencies, according to a report by the country’s news agency Interfax.

Weeks after China imposed a ban on crypto trading, Russia’s Deputy Finance Minister Alexei Moiseev says that Russians will still be allowed to trade crypto assets, but with one important distinction.

 

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“Citizens can buy and use wallets outside the Russian Federation. So it will remain, I think. There are no plans yet [to] change something.

A Russian citizen can have a wallet open outside the Russian Federation, but it is operations within the Russian Federation that they will be subject to bans, I think, for the entire foreseeable future, due to the fact that this is financial sovereignty.”

Moiseev says that the use of cryptocurrencies as

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