Russian President Putin has rejected the Central Bank of Russia’s proposal to completely ban cryptoassets, backing the government’s proposal to regulate crypto-asset mining.
Putin supports the government’s proposal to regulate crypto mining, according to the news Bloomberg citing three sources he says are familiar with the issue. The source noted that Putin supports the proposal to limit crypto mining in the country to regions with electricity surplus, such as Irkutsk, Krasnoyarsk and Karelia.
At the beginning of the week, the Central Bank of Russia came to the agenda with an extremely controversial proposal. The proposal, which aims to ban almost all crypto-asset activities in the country, has also sparked criticism in the crypto community. After the statements, Russian President Putin instructed that the country has some advantages in crypto-asset mining and that the country’s advantages should not be ignored when regulating the field. Putin also said that the government and the Central Bank should also agree on this issue.
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