Russia’s Ministry of Finance Now Intends to Allow Bitcoin Buying and Selling Abroad
An official from Russia’s Ministry of Finance has indicated the financial regulator now supports changes to a proposed law that would still ban bitcoin domestically but carve out provisions for its use as a foreign currency.
In a new interview with state-owned newspaper Rossiyskaya Gazeta, deputy finance minister Alexei Moiseev said the change in tone is part of a broader effort to limit the use of alternatives to the ruble domestically, while removing uncertainty for those working with blockchain, its underlying distributed ledger technology.
The announcement represents a significant change in tone for the organization, which has long pressed forward on a bill to ban digital currencies, as well as impose criminal penalties on their users, despite more favorable remarks from the Russian central bank.
This post was published at Coin Desk on July 19, 2016.