Econ ministry, cbank discuss cryptocurrency emission by govt

SKOLKOVO, Moscow, Oct 16 (PRIME) -- The Russian Economic Development Ministry and the central bank are discussing cryptocurrency emission by the government, Deputy Minister Oleg Fomichyov told reporters on Monday.

“The central bank has spoken about cryptocurrencies toughly. We don’t have any extra comment, but that we’re discussing the matter jointly with the central bank,” Fomichyov said.

“More precisely, the central bank is discussing … an option of emitting cryptocurrencies, but it must not be a private cryptocurrency, but a cryptocurrency issued by the government and controlled by the government so that in the light of digital economy, money could be given a more convenient means of circulation. It’s still at an early stage of discussion, and options are possible here, but government-controlled options.”

Earlier in October, Central Bank Chairwoman Elvira Nabiullina said that the regulator is still against legalization of cryptocurrencies as a money surrogate and sees private money unacceptable.

Local business association Avanti earlier turned to Valentina Matviyenko, speaker of the Federation Council, the parliament’s upper house, and Vyacheslav Volodin, speaker of the State Duma, the parliament’s lower house, with a request to authorize circulation in the country only of a local cryptocurrency.

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