This article is from 1prime.ru and the original article can be read here
MOSCOW, April 21 – PRIME. The head of the Central Bank, Elvira Nabiullina, speaking in the State Duma, said that the Bank of Russia and the government are discussing the issue of mining (production) of cryptocurrencies, it needs a systemic solution, but the regulator is still concerned about the use of cryptocurrencies as a means of payment within the country.
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“If we talk about mining, a systemic decision should be made. We are discussing with the government. This is not the direct competence of the Central Bank, we express our concerns,” said the head of the Central Bank.
She explained that it is one thing if mining takes place, but cryptocurrencies go to foreign exchanges – this is one thing, and another if the “mined” becomes a means of payment within Russia.
“In fact, it will be a money surrogate. And therefore, we express these concerns in order not to undermine the circulation of money,” she concluded.
Earlier in April, the Russian Ministry of Finance finalized and submitted to the government a bill that provides for the creation of a comprehensive regulation of the cryptocurrency market, including the procedure for performing transactions with digital currencies and their release, as well as determining the specifics of the activities of cryptocurrency market entities.