Russia to regulate crypto & launch oil backed cryptocurrency

posted 3 months ago
Russia’s State Duma is planning to pass a resolution on a pending cryptocurrency regulation bill. Oleg Nikolayev, a member of the State Duma Committee on Economic Policy, said the Russian assembly house led cryptocurrency regulations to its final stages & the house was working on a business-friendly framework for these [crypto] assets’ integration.

The House is likely to pass the crypto regulation law by March, which could further pave the way for the government to launch its central bank digital currency. With Russia hinting at becoming a crypto-friendly state, the country is also putting its first big blockchain bet on an oil-backed cryptocurrency. According to former energy minister Igor Yusufov, Russia is in the final stages of issuing a cryptocurrency-version of the petrodollar.
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