Russia Continues Blockchain Adoption Despite Confusing Cryptocurren...

In an annual event in St. Petersburg that was attended by Russia’s top people from the economic sector, blockchain was a hot topic where representatives from government agencies as well as state-owned business were vocal about their interest about the nascent industry.

The same cannot be said with cryptocurrencies as attendees seem to distance themselves with the burgeoning asset class.

The regulatory framework for cryptocurrencies is still missing in the country despite the fact that the Russian president himself on several occasions proposed a deadline for its submission.

On a state level the acceptance of cryptocurrency is confusing to say the least, some government officials from the financial sector states the prospect of using digital assets to replace conventional money is illegal.

But this notion was quelled when Kremlin declared that the CryptoRuble Stablecoin could minimize the amount of anonymous transactions and even help evade Western sanctios.

According to reports CryptoRuble cold go live within 2-3 years that is backed by the Central Bank of Russia.

Russia Continues Blockchain Adoption Despite Confusing Cryptocurrency Stance

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