Mikhail Mishustin: The crypto wallets of Russians contain assets worth 10 TRLN rubles – Bits Media

Chairman of the Government of Russia, speaking before State Duma deputies, told, that the Cabinet of Ministers does not plan to recognize digital currencies as means of payment.

Crypto industry, according to Mikhail Mishustin, needs regulation, because in the hands citizens have a huge amount of money in digital currencies:

"We understand perfectly well, what do we have more 10 million young people have opened crypto wallets today, for which significant funds have already been transferred, exceeding, according to various estimates, 10 trillion rubles".

truth, The Prime Minister did not announce the methodology for estimating the amount, like I didn't explain, how many crypto assets are in the wallets of older people. At the beginning of February in the State Duma they talked about, that all Russians have digital assets in their hands 5 TRLN rubles, The Central Bank estimated this amount at 7 trillion, and the presidential administration is in 16,5 trillion. For comparison, on ruble accounts in Russian banks at the beginning 2022 it was only a year 27,8 TRLN rubles.

“Digital financial assets are not simple instruments, they need to be treated fairly carefully. But we are against recognizing cryptocurrency as a means of payment, or money. Here we are in solidarity, We share the position of the Central Bank", - the Prime Minister told the deputies.

Bank of Russia, let us remind you, advocates a complete ban on cryptocurrencies and mining. While Mikhail Mishustin admits the possibility of legalizing the mining of digital currencies:

"We are thinking about, that to stimulate investment, primarily in fixed capital, mining issues can be discussed. This stimulates the creation of data centers, and related infrastructure".

Since mid-February, the government has been considering a bill on the regulation of cryptocurrencies and mining in the version of the Ministry of Finance, who speaks
for strict regulation of the market and taxation of crypto investors.

Recall, Previously, the Ministry of Energy of the Russian Federation called on the country's authorities to speed up the legalization and regulation of mining.