Image
Image
27-29 May, 2025
Image 27-29 May, 2025

Las Vegas, NV

Skip to content
Subscribe
  • Home
  • Services
  • Video
  • Events
Subscribe

Reading

Russia Legalizing Bitcoin A Matter of Time, Says Minister of Industry And Trade
News Markets

Russia Legalizing Bitcoin A Matter of Time, Says Minister of Industry And Trade

Leon Siegmund
By: Leon Siegmund
Oct 20, 2022
3 min read
Russia Legalizing Bitcoin A Matter of Time, Says Minister of Industry And Trade

Bitcoin may be legalized in Russia. This opinion was expressed by Russian Minister of Industry and Trade Denis Manturov during the educational marathon “New Horizons” organized by the “Znanie” society.

  • The legalization of bitcoin as a means of payment is only a matter of time according to the Russian minister of industry and trade.
  • The minister said the process of legalization will happen and it’s a matter of regulation.
  • Russian regulatory agencies have danced around the concepts of legalization and bans for years.


Is Bitcoin legal in Russia? There is still no definite answer though promising statements were heard this week: “I believe that yes. (…) The question is when it will happen, how it will happen and how it will be regulated. Both the Central Bank and the government are actively pursuing this right now. But everyone tends to understand that this is the trend of the time, and sooner or later, in one format or another, it will be implemented. But, once again – it must be legal, correct, in accordance with the rules that will be formulated,” the minister said.

Russian authorities are currently debating the future of bitcoin and mining in the country. The Bank of Russia insisted on a complete ban on bitcoin, considering it a threat to the Russian financial system. The Ministry of Finance believes that circulation of bitcoin in Russia should be regulated and taxed rather than banned. Deputy Head of Ministry of Energy made clear that it is impossible to cut off electricity for people mining bitcoin.

In February, the government approved the concept of regulation of circulation of digital currencies, which was based on the proposals of the Ministry of Finance. In the same month, the Ministry of Finance submitted a corresponding bill to the government.

The Ministry of Finance expects that legislative regulation of the bitcoin sphere in Russia will be introduced as early as this year. The Ministry is also working on the issue of taxation of income from cryptocurrencies.

In April, Prime Minister Mikhail Mishustin said that he opposed the recognition of bitcoin as a means of payment.

Stay on top of Bitcoin
news, get weekly updates
in your inbox.

Recommended News

Markets
Markets
Meta Shareholders Strongly Reject Bitcoin Treasury Proposal
Jun 01, 2025
3 min read
By: Alex Lari
Markets
Markets
Blackstone, World’s Largest Alternative Asset Manager, Invests in IBIT
May 22, 2025
3 min read
By: Alex Lari
Markets
Markets
Twenty One Capital Becomes 3rd-Largest Corporate Holder of Bitcoin
May 15, 2025
2 min read
By: Alex Lari
All News
Accelerating Adoption
News
  • Adoption
  • Legal
  • Markets
  • Mining
  • Opinion
  • Press Release
  • Learn
  • Sponsored
Company
  • About Us
  • Brand Assets
  • Newsletter
  • Services
  • Site Map
  • Terms & Privacy
Connect
  • Contact Us
  • Contribute
  • Services
  • Media Partner
  • RSS
  • Videos
Social Media
  • Twitter
  • YouTube
  • Telegram
  • LinkedIn
  • Instagram
  • Nostr
  • TikTok
  • Flipboard

© A Bitcoin-Focused Company | 256 Media, 2024

Language Switcher
Search
  • News
    • Adoption
    • Legal
    • Markets
    • Mining
    • Opinion
    • Press Release
    • Learn
    • Interviews
  • Services
  • Video
  • Events
  • News
    • Adoption
    • Interviews
    • Learn
    • Legal
    • Markets
    • Mining
    • Opinion
    • Press Release
  • About Us
  • Contact
  • Newsletter
Search

Popular Articles

Meta Shareholders Strongly Reject Bitcoin Treasury Proposal
June 1, 2025 · 3 min
BFF25 Event Recap: Unique Fusion of Bitcoin, Cinema & Art
May 31, 2025 · 3 min
Cantor Fitzgerald Launches $2B Bitcoin-Backed Lending Program
May 31, 2025 · 3 min
JD Vance in Las Vegas: “100 Million Americans will Hold Bitcoin”
May 30, 2025 · 4 min
Trump Media Will Raise $2.5 Billion to Build Bitcoin Treasury
May 29, 2025 · 3 min
Blockstream Unveils “Future of Finance Runs on Bitcoin” Vision
May 28, 2025 · 5 min

Bitcoin Only
Newsletter

Get weekly news roundups direct to your inbox!