{"id":56560,"date":"2022-01-25T15:22:40","date_gmt":"2022-01-25T13:22:40","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=56560"},"modified":"2025-09-04T07:04:10","modified_gmt":"2025-09-04T04:04:10","slug":"opinion-blockchain-development-and-russias-simultaneous-bitcoin-ban-a-joke","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/opinion-blockchain-development-and-russias-simultaneous-bitcoin-ban-a-joke\/","title":{"rendered":"Opinion: Blockchain development and Russia&#8217;s simultaneous Bitcoin ban \u2014 a joke"},"content":{"rendered":"<p>Bank of Russia fully supports the development of digital technologies, but sees systemic risks in cryptocurrencies. This was <a href=\\\"https:\/\/www.youtube.com\/watch?v=Rqeut0I9tk4&#038;ab_channel=%D0%A0%D0%9A%D0%9B%EF%BF%BD%D0%BD%EF%BF%BD%EF%BF%BD%EF%BF%BD%EF%BF%B5%EF%BF%BD%EF%BF%BD%EF%BD%D0%BD%EF%BF%BD%EF%BF%BD%EF%BF%BD%EF%BF%BD%EF%BF%BD\">\u0437\u0430\u044f\u0432\u0438\u043b\u0430<\/a> by Elizaveta Danilova, director of the Financial Stability Department of the Bank of Russia, at the RBK conference.<\/p>\n<p>She noted that Russians&#8217; investments in the market for digital currencies are growing, which has regulators&#8217; concerns. Danilova called crypto assets &#8220;monetary surrogates&#8221;, &#8220;which are used for payments in foreign jurisdictions&#8221;.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;Blockchain without Bitcoin is a joke.&#8221;<\/p>\n<\/blockquote>\n<p>Deputy Minister of Digital Development, Communications and Mass Media Alexander Shoytov said there is a need to form a strategic understanding of cryptocurrencies and, in the long run, create a &#8220;sovereign system of digital assets, built within our country, that is adequately integrated into the international system&#8221;.<\/p>\n<p>Anatoly Aksakov, head of the State Duma Committee on the Financial Market, described himself as a proponent of maximum market regulation.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;If we close off channels for legitimate use of cryptocurrencies, won&#8217;t we lose the ability to keep a finger on the pulse of distributed ledger technology?&#8221;<\/p>\n<\/blockquote>\n<p>The Bank of Russia <a href=\"https:\/\/u1f987.com\/en\/news\/bank-of-russia-proposes-ban-on-issuance-circulation-and-mining-of-cryptocurrencies-in-russia\">proposed<\/a> to ban the issuance, circulation, and exchange of cryptocurrencies, as well as mining on the territory of the Russian Federation.<\/p>\n<p>In the government, the State Duma and security agencies <a href=\"https:\/\/u1f987.com\/en\/news\/duma-members-warn-that-the-central-banks-stance-on-cryptocurrencies-risks-turning-russia-into-a-laughing-stock\">did not back this position<\/a>. In the Ministry of Finance of the Russian Federation <a href=\"https:\/\/u1f987.com\/en\/news\/russian-finance-ministry-opposes-a-ban-on-cryptocurrencies\">emphasized<\/a> that the cryptocurrency market should be regulated, not banned, and announced the development of a concept for the industry\u2019s operation in the country.<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news on our <a href=\\\"\/\/telegram.me\/forklog\\\" target=\\\"\u201c_blank\u201d\\\" rel=\\\"\u201cnofollow\u201d noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analytics.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bank of Russia fully supports the development of digital technologies, but sees systemic risks in cryptocurrencies. This was stated by Elizaveta Danilova, director of the Bank of Russia&#8217;s Department of Financial Stability.<\/p>\n","protected":false},"author":1,"featured_media":56561,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1269,1138,27],"class_list":["post-56560","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrencies","tag-opinions","tag-russia"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=56560"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56560\/revisions"}],"predecessor-version":[{"id":56562,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/56560\/revisions\/56562"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/56561"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=56560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=56560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=56560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}