7 Apr 2022 15:58

Cryptocurrencies cannot be used as payment means in Russia, development of mining could be discussed - Mishustin

MOSCOW. April 7 (Interfax) - The Russian government fully supports the position of the Central Bank of Russia (CBR) that cryptocurrencies cannot be used as a means of payment in the country, though the development of crypto mining could be discussed, Prime Minister Mikhail Mishustin said during the government's annual report in the State Duma.

"We are against recognizing cryptocurrency as a means of payment or as money; we are in solidarity and share the Central Bank's position in this matter; and we believe that this must not be permitted," Mishustin said.

"We also think that we could discuss mining issues in order to incentivize investment, primarily in fixed capital, and this would be creating data centers and related infrastructure," Mishustin added.