"It's trashing the people if the Russian central bank does this."
As if restricting freedom while embedding it into the system, Russia's central bank plans to not allow local miners to sell any cryptocurrency to its citizens.
Although they support the idea of allowing crypto mining in Russia as part of a draft bill that was introduced in mid-November, miners can only sell crypto to non-residents of Russia.
Russia's central bank only gives approval to miners to sell crypto on foreign exchanges or non-residents of Russia because they believe the digital asset can be sold exclusively.
However, miners in Russia are still skeptical because most foreign crypto exchanges ban citizens of that country from using their platforms following sanctions over Russia's war in Ukraine.
It is suggested that miners who wish to sell crypto in Russia should conduct operations through an "authorized organization", commented the Russian central bank after the Russian Ministry of Finance opposed its proposal to introduce strict licensing of crypto mining operations.
Going back to the previous description of the draft bill, the original version should not have prohibited the sale of crypto mining to Russian residents.
Instead, the bill prohibits miners from selling any crypto other than on foreign exchanges or government-backed platforms that are being developed in the crypto trial law.
Meanwhile, Russia still lacks a clear crypto framework following a heated debate between Russia's anti-crypto central bank and the more crypto-friendly Ministry of Finance.
