Russia's president Vladimir Putin has called the country's central bank, the Bank of Russia, and Russian government to reach a consensus on cryptocurrencies regulation.
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Speaking at a meeting with members of the Government, Putin said he does not see that the central bank is staying in the way of technological progress, commenting the recent proposal for a total ban of cryptocurrencies made by the Bank of Russia. Putin admitted that Russia has certain competitive advantages in crypto mining, but urged the central bank and the government to come to a consensus in the near future.
Russia is the third country in the world by hashing power of the Bitcoin network, according to data from Cambridge University. As iHodl earlier reported, the Bank of Russia is calling to ban not only crypto mining, but also issuance, turnover and exchange of cryptocurrencies in the country, citing threats to financial stability, citizens' wellbeing and its monetary policy sovereignty.
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