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Crypto assets are continuously catching mainstream adoption at a robust pace. Recently, the Russian Prime Minister has called for the integration of digital assets into the nation’s economy. The Russian prime minister, Mikhail Mishustin, reportedly highlighted that the nation’s financial infrastructure is ripe enough to integrate cryptocurrencies like Bitcoin and others. Notably, the Prime Minister made the announcement during a meeting with the Liberal Democratic Party members in the State Duma on Friday.
Russia seeks to revitalize its economy
On Friday, the meeting with members of the Liberal Democratic Party in the State Duma mostly touched on Russia’s plans to revitalize the economy after suffering a beatdown following sanctions due to its invasion of Ukraine. The issue of cryptocurrencies props up.
The urge to integrate crypto into Russia’s economy would solve issues related to regulating these assets with the help of their central bank. Mishustin further explained that such issues could only be resolved jointly with the Central Bank to assess cryptocurrencies’ risks for Russia’s money circulation.
Crypto mining regulations in Russia
While discussing the crypto integration in the Russian economy, Mishustin also highlighted that further measures should be taken to regulate cryptocurrency mining as well in the nation. He cited that there are other exciting initiatives like the regulation of cryptocurrency mining, the circulation of digital assets, and the development of online commerce.
Mishustin added the aforementioned statement before applauding the Ministry of Finance for the attention it was giving the cryptocurrency mining industry since the nation’s government approved the concept a few weeks ago.
