The Bank of Russia has signaled it is ready to legalize the world’s first mainstream cryptocurrency, despite the big risks and setbacks the digital money has experienced. The Bank’s recognition means it can better regulate it, and even collect tax.
“We advocate a careful approach to bitcoin and are monitoring the situation along with the Bank for International Settlements,” Gazeta.ru quotes Georgy Luntovsky, the Bank of Russia’s Deputy Chairman speaking on Wednesday at the annual International Banking Congress in St. Petersburg.
“One can’t ignore this instrument, maybe this is the future,” Luntovsky added.
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