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. 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.” “Citizens can buy and use wallets outside the Russian Federation. So it will remain, I think. There are no plans yet change something. Moiseev says that the use of cryptocurrencies as a means of payment inside Russia will remain illegal. “The position now is a ban on operations with cryptocurrencies on the territory of the Russian Federation.” In August of 2020, Russia declared cryptocurrencies legal after recognizing crypto assets as property. A piece of legislation signed into law last year further defined cryptocurrencies as a means of saving and investing, but not of payment. The legislation also allowed Russian commercial banks and cryptocurrency exchanges to buy, sell or facilitate the exchange of crypto assets after obtaining registration from the country’s central bank. Gold and national currencies were seen as better investments by 8.8% and 14% of the respondents, respectively. A survey conducted in August by Russia’s Association of Forex Dealers found that 77% of the respondents viewed crypto assets such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) as the “most forward-looking” of investments. Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox Follow us on Twitter, Facebook and Telegram Surf The Daily Hodl Mix Check Latest News Headlines Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Featured Image: Shutterstock/Fred Mantel News Highlights Business – Russia Will Not Issue Chinese-Style Drastic Measures On Bitcoin And Cryptocurrency Trading, Says Deputy Finance Minister News – Check all news and articles from the [Business news] updates. [Google News]
