Russia expected to allow and regulate transactions in Bitcoin

Regulation | June 15, 2015 By:

The Russian Central Bank may soon allow P2P transactions in Bitcoin, as well as other operations with cryptocurrencies, according to Izvestia, one of Russia’s leading news publications.

According to a source close to the Central Bank, it is “very likely” that the regulator may in fact be a proponent of cryptocurrency as “the attitude of the Central Bank towards Bitcoin has shifted in the past year.”

The insider also believes that the Central Bank could legalize and regulate some operations involving Bitcoin, particularly peer-to-peer transactions and settlement payments between individuals.

The Central Bank has historically been more open to Bitcoin than Russia’s Ministry of Finance. They will meet with financial market representatives to discuss how to approach cryptocurrency as a whole in Russia.