A Russian Finance Ministry official, Ivan Chebeskov, has spoken out against the proposed ban on cryptocurrency transactions in the country.
According to surprise words made by Russia’s director of financial policy, the country’s stance on bitcoin may be softening. Cryptocurrency, according to Ivan Chebeskov, a director at the Ministry of Finance, should be regulated rather than outlawed.
In response to the Russian central bank’s proposal to criminalize crypto mining and trading entirely, he has expressed his support.
Prohibiting cryptocurrency mining and operations, according to Chebeskov, will force the country to fall behind in the global tech sector. Instead, the minister advocated for cryptocurrency regulation: