Russia Will ’Never’ Consider Bitcoin Legalization, Says Minister
The Russian minister of communications and mass media said yesterday that the country will not consider the legalization of digital currencies like bitcoin.
According to state-owned news service TASS, Nikolai Nikiforov stated: "Bitcoin is a foreign project for using blockchain technology, the Russian law will never consider bitcoin as a legal entity in the jurisdiction of the Russian Federation."
However, Nikiforov added that it is "quite possible" that Russia could consider using blockchain technology, as well as various digital tokens. However he did not provide any context in which the technology might be utilized.
Last month, the country’s Communications Ministry drafted a document to the government detailing technicalities related to the adoption of cryptocurrency technology, indicating there is a interest within Russia for speculative foreign instruments.