Elvira Nabiullina, the head of the Bank of Russia, has been categorically against the use of cryptocurrency as a payment instrument over the past few years.
However, the government of Russia has decided to support the Ministry of Finance, which calls for regulating the crypto market. The concept of the financial department for the control of digital currencies should form the basis of the relevant bill.
In parallel, there are calls in the Russian Parliament and the Cabinet of Ministers to use such tools to circumvent Western sanctions.
However, the Central Bank believes the state will not be able to bypass restrictions with the help of cryptocurrencies.
Almost all major exchanges provide transparency of transactions and identify users.
