Russia says it's not ready to accept Bitcoin as legal tender, as El Salvador did
Russia says it's not ready to accept Bitcoin as legal tender, as El Salvador did By Editor DiarioBitcoin

A response given by a representative of the Kremlin reiterates the negative position towards Bitcoin

of the Russian government.

Some countries move forward and others move backwards in crypto matters. Today, while the world celebrates that El Salvador, a small Central American country of just over 21,000 km2, is the first in which Bitcoin is already, as such, official currency

, other nations deny it. This is the case of Russia, the largest country in the world in territory, with 17.3 million km2.

The Russian government reiterated just today its negative stance on a scenario in which BTC could be accepted as an official currency.

Dmitry Peskov, the official representative of Russian President Vladimir Putin, stated that Russia has no reason to recognize Bitcoin as legal tender, RIA Novosti

news agency reported.

The Kremlin representative argued that putting cryptocurrencies like Bitcoin

on the same level as traditional monetary instruments would bring nothing but harm to the country’s financial and economic system.

“Clearly, Russia is not ready for such steps,”

Peskov stated.

As Cointelegraph says, these latest comments from Peskov are in line with the Russian government’s long-standing skeptical approach towards Bitcoin


Anatoly Aksakov, a member of the State Duma and a key architect of Russia’s ban on cryptocurrency payments, argued in August that accepting cryptocurrency as payment would essentially mean the “destruction of a financial system.”

Russia officially banned cryptocurrency payments in the country as part of the country’s main cryptocurrency law, “On Digital Financial Assets,” in January 2021. The law does not prohibit Russians from buying or trading cryptocurrencies such as Bitcoin. In May 2021, it was reported that some Russian lawmakers were weighing a partial repeal of the ban on crypto payments

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Also, Putin’s government forced func.

ionaries to report on the crypto they own.

But in parallel to this, 77% of Russians prefer to invest in Bitcoin than in gold or forex, revealed a September survey published by DiarioBitcoin .

At the same time, both the government and the country’s central bank continue to maintain a rather rigid – and contradictory – stance on cryptocurrencies. In June, the governor of the Bank of Russia, Elvira Nabiullina, called cryptocurrencies one of the most dangerous investment tools currently available; moreover, the government is working on a legislative amendment that would allow for the confiscation of cryptocurrencies. But at the same time the Russian central bank is currently focused on developing the digital ruble.

Sources: Cointelegraph, RIA agency,

Translation and version by DiarioBitcoin

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