Russia is about to make a massive decision with cryptocurrency

Conflicting reports have surfaced about Russia making a big decision with cryptocurrency. Will the country ban or approve it?

1 minute & 13 seconds read time

A big decision is about to be made by Russia, as the nation decides to accept cryptocurrency or ban it entirely.

Russia is about to make a massive decision with cryptocurrency 01

A new report from Reuters revealed that the Central Bank of Russia is pushing for a ban on cryptocurrencies, as it believes it could cause financial instability with a large amount of transactions. This isn't the first move Russia has made against cryptocurrencies, as President Vladamir Putin recently stated during an investment forum that cryptocurrencies in general "bear high risks".

While Putin and the Central Bank of Russia have expressed their concerns about cryptocurrency, the chairman of the Duma, the Russian Parliament Committee on Financial Markets, has pushed for regulatory agencies such as the Federal Tax Service of Russia to tax transactions made on exchanges. Aksakov states that there is an approach that can be made towards legalizing these exchanges.

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Jak joined the TweakTown team in 2017 and has since reviewed 100s of new tech products and kept us informed daily on the latest science, space, and artificial intelligence news. Jak's love for science, space, and technology, and, more specifically, PC gaming, began at 10 years old. It was the day his dad showed him how to play Age of Empires on an old Compaq PC. Ever since that day, Jak fell in love with games and the progression of the technology industry in all its forms. Instead of typical FPS, Jak holds a very special spot in his heart for RTS games.

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