Russian Prime Minister: Russians hold ₽10 trillion in crypto wallets

More than 10 million Russians have already opened cryptocurrency wallets, Russian Prime Minister Mikhail Mishustin said during his speech in the State Duma. Their accounts contain cryptocurrency worth a total of ₽10 trillion.

As reported on the website of the Russian Federation State Duma, the prime minister called cryptocurrencies "not a simple tool," which should be treated carefully. He pointed out that the government, as well as the Central Bank, are against the recognition of cryptocurrencies as a means of payment. At the same time, the Prime Minister pointed out that the legislation should consider all the nuances when developing the regulation of digital assets turnover.

"To stimulate investment, especially in fixed capital, we may discuss the issues of mining, namely the creation of data centers and the corresponding infrastructure," Mishustin noted.

Before that, the First Deputy Chairman of the Central Bank, Kseniya Yudaeva, called cryptocurrencies a highly speculative tool, which is actually a financial pyramid. She warned that legalization could encourage citizens to invest in cryptocurrencies actively.

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