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Head of Sberbank urges not to ban cryptocurrencies

The Russian minister of communications said earlier he believes that Russia is unlikely to legalize bitcoin

© AP Photo/Kin Cheung

MOSCOW, January 17. /TASS/. Head of Sberbank Herman Gref opposes banning cryptocurrencies and calls for tolerance and patience in its regulation, he said on Wednesday.

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Russia’s Finance Ministry prepares draft law on cryptocurrency regulation

"Before trying to regulate it, it is necessary to maintain a normal background around the blockchain technology and cryptocurrency. It is necessary to explain to people that it does not store value, but right now is rather a very dangerous thing, like a lottery or a casino. It should not be banned, as it is a great new technology in development, which no one is yet able to comprehend," he said.

It was reported earlier that the Russian Ministry of Finance expects to introduce a bill on the regulation of new financial technologies, including setting rules for circulation of cryptocurrencies and ICO in the territory of Russia, until the end of February this year. "Yes, we are planning to do it in February," Deputy Finance Minister Alexei Moiseev told reporters.

He noted that the Ministry plans to finalize the bill, including in terms of rules for cryptocurrencies’ circulation. In particular, it is necessary to determine the list of platforms suitable cryptocurrency transactions. In the near future, the developers of the bill will determine the list of such exchange platforms.

It was reported in December 2017, that the draft law on the regulation of cryptocurrency in Russia will be presented on December 28.

Bitcoin is a decentralized system based on blockchain technology, which any user - participant of the system can emit, creating new blocks of the system with the help of a computing device. The concept of the system was first published in November 2008.

In early August 2017, cryptocurrency was divided into classic bitcoin and Bitcoin Cash, due to disputes about updates, which were supposed to increase the speed of transaction processing.

Russian Minister of Communications and Mass Media Nikolai Nikiforov said earlier he believes that Russia is unlikely to legalize bitcoin. Although earlier in October, it was reported that Russia's Communication Ministry has submitted to the government the document containing technical details related to cryptocurrencies adoption.

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Ukrainian frontline may 'collapse' under onslaught of Russian forces — BBC

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Putin orders protection of critical infrastructure, including Crimean Bridge — Kremlin

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Russia must be able to defend itself — Erdogan on revised nuclear doctrine

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Ukraine has around 50 ATACMS missiles — The Times

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NATO supports Ukraine not out of charity but for its own strategic interests — deputy head

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Biden’s actions increase likelihood of escalation in Ukraine — PM

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Ex-German chancellor never expected Russia to tolerate Ukraine’s NATO membership — memoir

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Canada neglects its sovereignty by approving transfer of land mines to Kiev — diplomat

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Russian forces dislodge Ukrainian troops from half of positions in Kurakhovo in DPR

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Russian army pushes Ukraine out of Kurakhovo water reservoir’s north shore

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Russia counts on West's responsibility in nuclear deterrence issues — Kremlin

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Russian embassy warns UK about dangers of calling for Moscow’s ‘defeat’

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Moscow won’t allow US to silence UNSC as Washington backs Israel — Russian UN envoy

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US missile defense base in Poland long among Russian army’s targets — Foreign Ministry

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US, NATO decision on strikes continues policy of escalation — Putin

"Experts are well aware - and the Russian side has repeatedly underscored this - that it is impossible to use these weapons without direct participation of military specialists from the countries that produce these weapons," the president said

US makes mistake by destroying INF Treaty — Putin

The Russian leader stressed that the United States made a mistake by unilaterally destroying the Intermediate-Range Nuclear Forces Treaty in 2019 under a far-fetched pretext

Defeating Ukrainian forces near Olgovskaya wood, enemy losses: situation in Kursk Region

The Russian Armed Forces have completed the destruction of a Ukrainian battlegroup blocked in the area of the Olgovskaya wood

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Russian air defense deflects attacks with Western missiles — Putin

"As a result, the goals that the enemy apparently set have not been achieved," the Russian leader said

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The company stated it would seek damages amounting to 230 million euro for failing to receive the contracted volume of gas from the Russian company for delivery to Germany

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The United States continues to modernize its nuclear triad, Lin Jian noted

Lukashenko tells Putin situation is "starting to get tense with Wagner"

The Belarusian leader noted that they want to go to Warsaw

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Ukrainian special services assemble unit for sabotage attacks in Kupyansk — official

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Russian forces push Ukrainian troops 10 km away from Lisichansk in LPR — expert

Russian troops have taken new lines and positions northwest of Zolotaryoka as a result of successful operations

Trump to continue using Ukraine to contain Russia — Valdai program director

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US journalist calls US President Joe Biden’s government 'the fascist state'

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Russia to use revenues from frozen assets of Western investors — Finance Minister

Tit-for-tat measures will be implemented after receiving information about unfriendly actions of Western countries, Anton Siluanov noted

Russia not obliged to notify anyone about launch of intermediate-range missile — Kremlin

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