The Crimean government could set up a cryptocurrency exchange, TASS reports.
“Mining for Crimea is an illusion, but ICOs and cryptocurrency exchanges are quite realistic,” chairman of Russian State Duma’s Financial Market Committee Anatoly Aksakov said on the sidelines of the Yalta International Economic Forum.
The authorities in Crimea are also looking to create a cryptocurrency fund for foreign investors to evade US and European sanctions.
The government expects to accumulate foreign cryptocurrency resources at the fund to convert them into cash.
“The funds will be invested in projects on the territory of the peninsula,” EADaily quoted Crimean Deputy Prime Minister Georgy Muradov as saying.
According to Tass, Deputy Finance Minister Alexei Moiseev has publicly discussed the possibility of using ICOs to bring money into Crimea and of allowing cryptocurrency payments in the region as a way to attract foreign tourism.
By Jade Olafson